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The Bitcoin price has been all over the place these past few days. However, this volatile market is still respecting a few key levels and forming a key pattern in the higher timeframe.
In this Bitcoin analysis, we will be breaking down the key pattern the BTC price is forming in the 4-hour timeframe, the key levels we are currently wathcing, and the possibe price sceanrios to expect in the coming days.
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What Next For Bitcoin
The Bitcoin price is still trading within this 4-hour pattern. And as far as the price continues to this, we can expect to see the Bitcoin price continue to range and trade sideways within this key pattern.
However, if price breaks out of this pattern, we might see a massive move follow this breakout. The question however, is what direction will this BTC breakout take?
So for now, we stand aside and wait to see the Bitcoin price breakout of this 4-hour key pattern first before looking for any trade setup.
Key Levels To Watch For Bitcoin
The key levels to watch for in the Bitcoin 4-hour price chart are the resistance and support channels that make up the pattern.
As far as the Bitcoin price continue to respect these channels, we can just expect to see the slow, ranging market continue for BTC.
So for us to see that price breakout either to the upside or downside, one of these key levels must beviolated.
Final Verdict!
The Bitcoin price is currently forming a key pattern in the 4-hour timeframe. And in the coming days, we expect to see the BTC price breakout of this pattern and make a massive move.
The question however, is what direction would this price breakout take? Should we expect this bullish rally in Bitcoin to continue or will this be a bearish breakdown in price?
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