Bitcoin broke below the $3,600 support (on Coinbase). It’s now testing the prior order block between $3,580 and $3,540. Should this break down decisively (4hr candel opening and closing below), I believe a drop to $3,400 will become likely.

Looking at the 4 hour chart, we can see the 8, 21 and 55 day EMA’s are converging with the 50 and 200 day MA. The Bollinger bands are also bottlenecking. This suggests a larger move may be coming in the next 24-48 hours.

In today’s video analysis I discuss where price may be heading next, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
Published On TIMM:


Getting close to the edge IMO workin2005, hope to see a substantial soon.
Thanks for the share again – will be back to rate
Regards,
Mark (Zeus69)
Looks like a larger move may be coming. Thanks for stopping by Mark!
As promised – back to rate, 😉
😉
Ah all these ambiguous sings, after all it seems like sentiment is improving gradually….
I agree…overall sentiment seems to be improving. We’re also seeing signs the end of this bear market may be near. The mainstream media has stopped taking about Bitcoin. We’re seeing evidence of coming adoption as the SEC continues to hint about ETF approval in the “near” future and major apps like Square are planning to integrate BTC via the Lightning Network. Still, we’re not out of the woods yet.
Poised…as you note, it could break decisively in either direction. Usual high-quality analysis @workin2005. Rate later.
Thanks @cryptosdecrypted
Rated.
😉
I love bitcoin,
Thanks analysis @workin2005
My pleasure Muhammad!
As always, another interesting analysis to read. Will be back to rate my friend 😀
Thanks @candyman!
Thanks again workin’ 🙂
My pleasure James!
Great writing bud 🙂
Appreciate it @berdian
good analysis.. really helpful video.. thanks for share this knowledge in trybe community
My pleasure @amit789
Thanks for always keeping us updated
Thank you for the update @workin2005
My pleasure. Thanks for stopping by @dwiitavita
@workin2005 Thanks for the great analysis. 🙂
My pleasure @prab636
Loved the analysis, keep sharing the great work!!
@workin2005
Thanks @jhonny!
there’s no peace for BTC 🙂
It’s certainly been interesting