Intraday Bitcoin analysis for today is carried out on the 1 hour timeframe.
The current bearish trendline shown on the 1 hour chart helps to provide a perspective for Bitcoin in terms of any chances for a long position.
3929.60 and 3800.90 are price levels used in this analysis to indicate resistance should any bullish momentum develop in Bitcoin. Price closing above the top of resistance is bullish and warrants entry of long positions.
It is however also important to keep in mind that price closing below 3277.50 could see Bitcoin retreat to support (not shown here) between 3014.40 and 1866.80.
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