BTC is right now moving in same channel as you can see as per 4H chart.
My opinion :
1- If BTC gives the 4H closing above the trend line that will be considered as break out and BTC can move towards Breaking its resistance levels at 62,800 , 63,800 or above 65,000 with a little bottom start (59k range)
2- IF BTC breaks down the bottom trend line and gives 4H closing below the trend line , i will be considerd a break down and our bottom targets will be 58k , 57k amd around 56k.
3- BTC can consolidate in this channel and can move side ways as the weekend is going to start .and we all know there is less volume on weekend.
Now , What to do ?
If you have an open short above 61k entry then let that open ,
If you have opened long below 59k then let that open.
Previously when BTC reached to 59,500 level on 18 april 2024 , BTC pumped by $7500 in price in 6 days and gave a weekly closing at 67200 and then reversed back to 56,000.
On 4 March 2024 BTC reached to 59500 level and then pumped by $14,400 in 10 days and gave closing above 73,000 and then reversed back to 60,000.
I consider this 59k range support a high level support .
Do your own research before taking any investment decision.
From today i will only take long trades , and short only on BTC.
The reason for this strategy is , in Long trades we have bottom supports many bottom supports the maximum bottom is zero.
and in Short we actually cant predict accurately how long the price can go upside . Example is the yesterday's event , in long you actually know the price will bounce back to your entry point soon in case of BTC. In short trade you dont know when and which resistance level will work accuratly. I can be wrong , but i will stick to this strategy.
SOL has given Trend line support break down at 4H chart. if 4H closing happens below the trend line support (155-3) then it will definately go further down in my opinion.
Dont long from here it will be risky , as this is not an entry point for long trade.