Update

BTC running into nice resistance here at the 45k level, you can see we have hit this price several times and a drop has shortly followed. I will say the more times we test the weaker it becomes, so hoping to finally break that level and see a continuation.

I am expecting a retrace back down but the same as my eth analysis last night I would really like to see it hold strong so 0. 5-0 .705 before a bounce we’re going to need bullish momentum to get above the 45k mark and a strong retrace would indicate that.

I also like that we’re holding this bullish structure so a retrace of that support would be healthy as well, I don’t want to see a 4h close below that because then we break structure. we have a big move on the 4h highlighted by my green box, that is enough confluence to enter a long position If we find support there aiming for the 45k level leaving a small portion to run incase price breaks.

If this move gets invalidated by a big drop expect support at this top yellow line and then eventually down to the grey box, at that point I will do another update determining where I think price will go.

all looks good for BTC but it’s make or break at these levels.