4-Hour Analysis:
Big Picture: Another day of sideways market activity, with prices being stuck in the middle of the range (Choppy Range). Currently, the price is trading extremely near to major resistance levels; nevertheless, in order to generate more excitement, Bitcoin must retake and maintain a stronghold above the EMA-50 and 21,330 level resistance. Failure to do so would attract profit-taking, exposing the price to lower support levels.
On the Upside the first resistance level is predicted to be 20,870-21,000, followed by 21,350. Furthermore, the 4-hour EMA-50 serves as a critical resistance level. For a few days now, this level has been resisting upward movement. EMA-50 is now observed at 21,120. Holding above these resistances will pave the way towards 22,400, then 22,850. However, acceptance over 22,850 is required to prolong the price’s rise. If this is accomplished, the upside will be extended towards 23,750, 24,400, and eventually 25,000 levels.
The Downside remains same with 20,100-19,950 as firm initial support. Following that, we have historical support at 19798.70 ATH. Any collapse below this level, on the other side, will drive the market back to lower supports at 19,050, followed by 18,595.
