Bitcoin Update 02–07–4H chart looks bullish
A short update of the progress of bitcoin.
On the daily chart, we are still in a bearish trend, but we are close to breaking this trend. This could result in a trend reversal. The most important is that we do not fall underneath the 30k support level and we break above the trendline and the 35k resistance level for now. Creating a new Higher High will be a good indicator to be a little bullish again.
On the 4H chart, we entered the buy/support zone. It seems like we are creating a Higher Low now + the up-trend is still intact. So we could say that we are still bullish on the 4H chart as long the support level holds and the trend is intact. I think we will break the downtrend and heading to a new Higher High.
If we break the trendline and support (~32500k), the next support is around the 30k zone. Because we already tested this support 3 times it is getting weaker so be warned that we could see big moves down (24k) if that happens (If we break through the 30k support zone).
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