Following the nearly 6,500 low, Bitcoin rebounded back to the 7,390 Resistance (R1) where it has been so far rejected. The 7,110 - 7,390 is essentially the High Volatility Zone on 1H. With 4H turning neutral (RSI = 44.578) we are expecting a 24H trade action within this zone.
If 7,390 breaks then BTC may test th e 7,720 Resistance (R2) the the MA200 will add selling pressure as it has been doing since November 7th.
If 7,110 breaks and the MA50 (which turned from Resistance into a Support) is crossed, then BTC will most likely seek the 6,790 Support (S1).
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If 7,390 breaks then BTC may test th e 7,720 Resistance (R2) the the MA200 will add selling pressure as it has been doing since November 7th.
If 7,110 breaks and the MA50 (which turned from Resistance into a Support) is crossed, then BTC will most likely seek the 6,790 Support (S1).
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial