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$BTC has once again failed to recover its 4H trendline from late December…
As we discussed a few weeks ago, Bitcoin’s 4-hour trendline broke down at the beginning of the year, and that same trendline has since been acting as major resistance for price action.
As we can see, the strong rally from a few days ago received a HARD rejection from this EXACT trendline around $95k, which caused Bitcoin to fall right back into the $90k range.
It’s very important for price to break back above this trendline on the 4H chart if we want to see new highs in the near future.
I don’t see many people on CT talking about this trendline, but I think it will continue to act as crucial resistance in Bitcoin’s short-term price action. Keep a close eye on it… 👀