$BTC TF: 4H — critical moment! It's either a structural break or a trap!
So, the breakout of the diagonal trendline from top to bottom and price holding below it doesn't mean much yet. There's a serious chance of a bear trap since the key and IMPORTANT support at $76,504 is still holding strong.
If this price breaks and we get a solid 4-hour candlestick closing below it, that would indicate a structural break in the market with a subsequent downward move to take out long stop losses.
Either the price of $BTC holds below the support at $76,504, then we're headed down. Or the price bounces back above $79,311 — then we'll see some sideways action with a probable impulse breakout upwards, targeting $84,000.
Not financial advice — think for yourself and make that profit! DYOR!
#BTCUSDT #BTC
So, the breakout of the diagonal trendline from top to bottom and price holding below it doesn't mean much yet. There's a serious chance of a bear trap since the key and IMPORTANT support at $76,504 is still holding strong.
If this price breaks and we get a solid 4-hour candlestick closing below it, that would indicate a structural break in the market with a subsequent downward move to take out long stop losses.
Either the price of $BTC holds below the support at $76,504, then we're headed down. Or the price bounces back above $79,311 — then we'll see some sideways action with a probable impulse breakout upwards, targeting $84,000.
Not financial advice — think for yourself and make that profit! DYOR!
#BTCUSDT #BTC