🚨 Market Update - 👀
The orange trendlines on this 4hr Bitcoin chart shows us how the price is compressing. The first thing to be aware of is that this makes the market choppier the more it compresses, before eventually a bigger move in one direction. During this price action, scalps are more normal but we must be ready to adapt quickly.
We can see that not only is Bitcoin under the resistance of the trendline but still $104k (Weekly Open) is a significant level of resistance.
The 0.75 Fib level around $106.k was the best entry over the past couple of days and we were expecting this. For now, lets see which of the trendlines breaks first.