$BTC 3.24 Tuesday, current price 705. The 1HK chart is in a consolidation phase, with price at the hourly Bollinger Band midline. The daily and 4H chart patterns have not formed a bullish structure. Yesterday's news-driven surge reached a high but failed to break through the key resistance level at 720.
Strategy remains bearish bias.
On the upside, after the price charges toward 715-720 and pulls back, consider positioning short orders. On the downside, support is at 698-700. Can establish light long positions at 700-702.
$BTC 3.24 Tuesday, current price 705. The 1HK chart is in a consolidation phase, with price at the hourly Bollinger Band midline. The daily and 4H chart patterns have not formed a bullish structure. Yesterday's news-driven surge reached a high but failed to break through the key resistance level at 720.
Strategy remains bearish bias.
On the upside, after the price charges toward 715-720 and pulls back, consider positioning short orders.
On the downside, support is at 698-700. Can establish light long positions at 700-702.