BTC 1h and 4h analysis: 38k: The hope for rally contination
Hello my friends at Tradingview.
Let's start analyzing BTC/USDT in 1-hour timeframe because It will give us lot's of information:
We had a very healthy, powerful uptrend with beautiful Higher lows and Higher highs.
As you can see The price has hit the trendline. Thus, I believe we are going to have a pullback to 37950(~38000) which is an important level. Then with bulls pushing, 41k can be a stable place for the price.
but in 4-hour(the main chart), We can see There were times which price consolidating and spiking up. Then we reached to a very slow uptrend which of course isn't powerful.
At this level we might have a reversal but let's not forget the 38000 and 35500 which are strong areas.
In my opinion, The bull can still have the power in Bitcoin but we might hit the 38000 and starting to have powerful uptrend.
Let's start analyzing BTC/USDT in 1-hour timeframe because It will give us lot's of information:
As you can see The price has hit the trendline. Thus, I believe we are going to have a pullback to 37950(~38000) which is an important level. Then with bulls pushing, 41k can be a stable place for the price.
but in 4-hour(the main chart), We can see There were times which price consolidating and spiking up. Then we reached to a very slow uptrend which of course isn't powerful.
At this level we might have a reversal but let's not forget the 38000 and 35500 which are strong areas.
In my opinion, The bull can still have the power in Bitcoin but we might hit the 38000 and starting to have powerful uptrend.