We’re taking a look at the Bitcoin price in one hour because Bitcoin is just about to make an explosive move in less than 24 hours. I’m gonna explain why in this article now. These consolidations only last for about two-three days. We are already on the third day inside of this consolidation, so we are ready for this potential move. I’m going to show you what is the higher probability in the next coming hours. In my personal opinion and we’re also taking a look at Solana here because Solana looks absolutely great here at this support level. I want to show you also what is my personal opinion here on Solana.
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Bitcoin Trading
In the last few days, as you can see, we have been consolidating at this range for quite a few days. As you can see on the chart these consolidations are 3-4-5 days approximately, you do not see many days at these consolidations. So, we are looking for that potential direction in the next 24 hours now. There are some potential patterns that I can see. They are pointing out bullish because it cannot be bearish. You could potentially scalp these little drops that you can see on the chart, but coming from a downtrend like this. As I mentioned, on other the last couple of videos I cannot be bearish at this low point. Maybe some potential scalps to the downside to the upside – okay.
But I’m looking for that small swing trade here for a week or for two weeks and I think there is a very likely scenario that this range will hold normally. There is two scenarios that I see here in the next 24 hours, because we are running out of time, we are seeing a little bit of that volatility. It is Sunday not too much going on the chart.
4-hour Bitcoin potential
If I take a look at the four hourly what we could potentially see. Bitcoin is coming down to the strongest level on the VPVR. It is second strongest level as you can see right over here, 39k levels are. We are going to retest it. Are we going to successfully break down it because there’s a really nice trader here? If we have that volatility coming down to this major daily level around about the 39.2. We retest the lows and we do not successfully break down this range and you will see it on the next hourly candles. Once you retest this range that if it’s going to be a successful breakout or not well. Then potentially you are going to get a big massive bounce from this level now. We were eyeing this potential bat pattern. If I take the extreme low from this major pump, we did take a look at this potential bat pattern, which has just been boring.
We know it’s Easter it is the weekend not much going on, so much nothing new that we can add to the chart. But as you can see point 88 would be at the 38.8k levels. So, you could expect that potential wick here to the downside and look at the Fibonacci time.
We are still okay with time from the low to the middle of this little correction to the 382. As you can see, we do still have approximately 24 hours for this potential move to the upside for the bitcoin price to start moving in a direction and it’s going to be to the upside. If we do retest here the low 39 000 dollars, so this is something that we are going to take a look at. This is if we do not pump from this range because this could also be already the potential level from the back pattern, because we are creating here slightly higher lows with this consolidation. We will probably have that move before we retest below 39 000.
In my personal opinion, there are some small harmonic patterns that are running out of time. As you can see on the chart this is on the one hourly I was eyeing this a Gartley pattern. As you can see from this high to the low to this range over here and to this one which is at the point 85-80. now almost 88 approximately. To the 0.79 would take us all the way up here to around about the 42.5k levels now. It seems like we are going to run out of time. If we do not see this in the next 24 hours then the time will be a little bit overextended. Looking at Fibonacci time from this point to this point. It’s already hitting the one to one it would be ideal a one-to-one super overextended would be at the 1.6 which is this level over here very unlikely that this is gonna you know come to those levels.
We know around this middle area is the moment where we have to hit it. If it’s not the one to one two-six is overextended. For this harmonic, of course, so it would be in between the one-to-one and one point six. If we are gonna manage to have that move or come down and retest and look for that bullish bat harmonic pattern which is a much larger pattern on the four hourly much more powerful than this small Gartley pattern, of course, we can. I cannot be bearish at this range for a swing trade I just do not see Bitcoin potentially in the immediate short term right now.
At these levels breaking down and going to 35 000 or something like that. If we do have that big retracement and consolidate in these regions. Then we would potentially be looking at them some short opportunities. Of course, I might be bearish at round about the 42.5 and one of the reasons why is because we know that is a very big resistance. Looking at the VPVR from the volume traded for the last five months. As you can see on the chart, big spike we can see that reaction over is also the 382 from this major drop and so around about that 42.6.
We might see that volatility at that range and a big massive rejection. If we do climb to that level so I would be very cautious for the moment. This is a strong floor level where bitcoin is struggling to break below which is that 39 000. So, nothing much to add here on the chart. Bitcoin is just below 40 000.
Solana trading
Solana is looking very exciting. Why is it looking exciting? Well, we were eyeing Solana since we created this descending wedge. We had the massive lower lows, higher lows – that was helping us to say that the bears are losing steam all right and we did see that breakout retest of the resistance. Solana absolutely flew here to round about the 140 now. What has happened? We have had the retracement. People are scared of what’s going on at lower levels. Well, we are hitting such a strong support level on Solana here. As you can see, we do have this major last lower high. You could arguably discuss where the price is consolidating after having a big massive pump. A big massive retracement, we are getting that reaction here with several daily closers. As you can see, going sideways and also the volume is pointing out that this spike over here with this uptrend and the volume going down with this correction, meaning that the balls do have slightly more power in this entire movement.
So, this is telling me that this is such a strong level. We have the daily level right there holding our support and we have also got the six one eight Fibonacci from the extreme lows to the highs. We are getting that reaction from the six one eight. So, we are adding confluence and you can see with the price action that it is reacting to this range. So, a potential bounce from this level is very possible! I would be aiming for the highs here around about 140.
But if you were long in this range, I would be conservative and I would be looking at that 618 from this dropю Just in case, you create a lower high here for a potential continuation now. The bulls might fight and might attempt to hit the highs, but if they lose steam, you’ll be creating a lower high potentially at the six one eight and continue to the downside. It is the moment for the bulls to fight back.
[This article is a transcription of a video made by Andy BitcoinsensunsOriginal video: https://youtu.be/NN5nEMlR94k]
