Bitcoin close above the 40k on the weekly perspective, it's a good sign.
On the 4h time frame, the price failed to create a new Higher High of 43k.
We could see a bullish scenario if the price is going to create a new higher high with volume and confirmations as I told you in the previous analysis. on 43k we can see the supply zone.
Otherwise, if the price is going to lose the 40k support and retest it as new resistance, the next support is the 37k.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
On the 4h time frame, the price failed to create a new Higher High of 43k.
We could see a bullish scenario if the price is going to create a new higher high with volume and confirmations as I told you in the previous analysis. on 43k we can see the supply zone.
Otherwise, if the price is going to lose the 40k support and retest it as new resistance, the next support is the 37k.
––––
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
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The price needs to create a new Higher high for the bullish scenario
