Bitcoin analysis on the 4 hour time frame: Live Update

Previous Bitcoin analysis called for more downside if a break through the bottom of the channel did occur at ~$6,565.10.

[Bitcoin 4 hour timeframe chart](https://i1.wp.com/coinanalyst.investments/wp-content/uploads/2018/09/Bitcoin-again.png?ssl=1)

The 4 hour timeframe bearish trendline (red color) should be taken note of, so that a close above previous support ($6885.70 and $6,565.10) and breakout above trendline can be used to possibly initiate long (buy) positions.

In the scenario above, entry into any long position would seek to target at least between $8362.20 and $8,656.90 (resistance or supply area for Bitcoin).

Meanwhile, $6,190.30 and $5839.30 marks support in this Bitcoin analysis, and a break below the lower boundary especially means more bearish move to the downside.

Overall, the current Bitcoin trend is bearish to sideways at best. 



View Reddit by Cryptotrader029View Source

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One Response

  1. LowSecurity
    September 13, 2018

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