Yesterday, Bitcoin broke the ceiling of its descending channel in the 1-hour timeframe, making a solid move to the $21,923 range.
This strong reversal could range Bitcoin's trend between the current support at $21,451 and resistance at $22,215.
Note that if the $21,760-$21,750 support holds for the short term, we can expect a positive swing from Bitcoin to the $22,000 range.
This resistance is likely to react negatively, and generally, due to the bearish trend in the 4-hour time frame, these reversals are more likely to be a bearish pullback.
This strong reversal could range Bitcoin's trend between the current support at $21,451 and resistance at $22,215.
Note that if the $21,760-$21,750 support holds for the short term, we can expect a positive swing from Bitcoin to the $22,000 range.
This resistance is likely to react negatively, and generally, due to the bearish trend in the 4-hour time frame, these reversals are more likely to be a bearish pullback.
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