Bitcoin Trading Setups

#BTCUSD #1hr #Bybit
- Here is BTCUSD Bybit 1hr chart. Right before and after the weekly candle has been closed, it showed the scam move as always. Pretty sure a lot of retail traders had suffered because of this move.
- For right now Bitcoin has been resisted by the orange trendline above and is going through some correction phase. For smaller time frame, we should monitor the red upward trendline and see if it can support later.
- Within three hours, if Bitcoin goes through more correction, 9140~9160 can be a good place to expect support.
- Other major supports that I am considering are 9100~9120 and 9030~9070.
- If we see some more bullish move, make sure to keep an eye on 9260 and 9300 resistance. Rather than entering short at that area, I would wait until those resistances are broken above, and enter long when retesting.
- Or I can enter short if resistance failure has been confirmed and thus can expect swing low.
- Also pay attention to my wave counts. I have considered the side way moves that has been going on since beginning of the July, as ABC zigzag wave structure.