BITCOIN at the key support level. We might see a strong recovery if ...

BTC 4h chart (BYBIT)

Looking for a possible dip into the key support areas for some scalps long.

Falling wedge for now. As long the price is getting back inside the wedge, there is a chance to see a stronger recovery in the next few days. A possible long trade might work from this level. Personally I would like to see that the bulls manage to push the price above the 65200-65900 level before I take any long trades.

Bellow we have the key level of 62460 and the MA´s range of support of 61180-62144. In case we have a fast and strong sell, we might see the price dipping into the diagonal channel of support of 55440-59350. The top and median will be the first strong layer of support and in case of a strong wick down we might see the bottom touched.

For now, I will take it step by step. First, look for a reaction of 62460 and of possible at 61180-62150 (might have a good/ strong bounce from this area). For a short fast scalp, I am looking at the above resistance of 65200-65900.

Considering that tomorrow we will have the Fed Interest Rate Decision, we might see some strong volatility in the markets.

Note: Check your broker chart and see the price level difference. This is just my opinion and it is not meant to be a signal or financial advice. Trade safe and manage your risk.

I hope you enjoyed this article. Don't forget to follow me on Twitter, YouTube and Instagram.

JOIN our Discord VIP trading group and get access to a lot of LIVE TRADING CHARTS:


Open a CRYPTO account TODAY
Brace yourself for a rewarding adventure into the dynamic world of trading!

Embark on your journey to explore the world of STOCKS and FOREX trading, where financial opportunities await.