#BTC/USD Quick Update 4H-Frame S & R Chart Update The p | CRYPTO COACHING α |BINANCE SPOT & BYBIT FUTURES|

#BTC/USD Quick Update
4H-Frame S & R Chart Update

The price dropped to $22,000 after breaking the $23,500 daily support as we expected in the previous analysis.

Is this area a good opportunity to buy Bitcoin or not?

Actually, The weekly uptrend is almost broken and the overall condition of the global economy does not seem perfect at the moment but locally we’re above a major demand zone for Bitcoin.
So, Firstly, the best choice is to wait and see the price action in this strong support zone.
Secondly, We must see a good confirmation for reversal before taking any decision for buying Bitcoin or any Altcoins.

The main support area is wide and located between $20,000 and $22,000. Breaking down the $20,000 will be a very bad sign for the next months.

We will wait for a nice rally (4H) from this area to can consider it as a confirmation of the reversal and get back into the market.

https://www.tradingview.com/x/HY1TebkN/