BTC daily update

12 ต.ค. 2021

4H timeframe

Since my last update, price managed to break through the minor overhead resistance denoted by the white line. We saw a quick retest before price pushed into a more significant resistance zone .

Price is currently rejecting off this zone, though given the strength it has had to push here it would seem likely that price tries to break this resistance again soon.

It’s possible price breaks this resistance shortly, though a correction of sorts would seem more likely. If so, price could easily fall back to white line and retest it as support, and if that fails to hold we will revisit the lower support at 51.5-52.5k.

As long as the large support zone at 51.5-52.5k holds we’re bullish and I expect a visit to all time highs soon.