BITCOIN price continues to build a possible base for a parabolic move with a possible target of 46.000.

BTC 4h Bybit chart.

Bitcoin price is forming a symmetrical triangle at 4h and simultaneously creating a potential base for a parabolic move with the target in the 46.000 USD area.

For now, the red fib. circle (43.130) is acting as resistance. Once this level is flipped in support, we can expect stronger moves on the upper side. I think a must condition for the possible parabolic move to happen (marked with blue), 42540-42820 should hold as support. Keep in mind that usually the base of parabolic moves are pretty choppy and volatile.

Above, the first channel of resistance is 43780-44600. In case of a strong pomp, that channel could present a good area for some fast scalp short trades.

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For the moment, the RR it is favorable for the bulls as long as the 42540-42820 level of support is not lost and the price remains above Monthly/ Weekly open.
I have marked the key S&R levels for possible short and long medium time frame trades.

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.

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