Bitcoin HODL

What's Instore Next for Big Bitty

Bitcoins been on the radar lately. As it hovers above the main weekly and monthly support we have to wonder……Are we going to hold and leg up from here or does Bitcoin get smacked as large players take profits at ATHs???? One other event that is important to mention is the Bitcoin Halving and the fact that there is generally a sell off 2-4 months pre halving from miners as they try to profit before the soon to be reward reduction. As luck would have it that is directly where we sit today timing wise.

I have included a few timeframes to observe with the daily being the focus. The daily level of extreme importance that is critical to gain for more up is highlighted in red at $58,359. Directly below this there is a weekly that can be used as a pivot for above or below, and that is located at $56,510 (Purple Dash) Use this level to help guide you in price progression as its an important weekly located in the middle of our range on the way to the significant daily to gain.

We are currently playing the 4hr leg (Green) at $63,007 for support which is the last untested level in this leg. If it can get above the weekly and hold at $58,510 it has a chance at trying to gain the significant daily. The next major level below us is a Monthly level located at $61,359. It is tested but its been significant support so far even rewarding us with a 13% pop on FOMC day.The lower level we absolutely need to hold is a significant monthly at $58,790 (Red Solid Line). Below this level all hell breaks loose and more than likely come back to the $45k range to make another attempt at support.

Which direction we go nobody knows but you better believe Im patiently waiting to capitalize on the move.

Daily Time Frame

4 Hour Time Frame