BTC complete Analysis ........Whats next .... bear or Bull
BTC/USD 4H Chart Analysis
Key Observations:
Descending Channel:
Price is moving within a downward-sloping channel with lower highs (LH) and lower lows (LL), indicating a bearish structure.
Major Support & Resistance:
Support: Around $89,000, marked as "major support."
Resistance: Around $105,000, marked as "major resistance."
BTC is currently near support, which could act as a potential bounce zone.
Double Top Formation:
A double top pattern was formed around $105,000, confirming strong resistance.
This led to a rejection and continuation of the downtrend.
Fake Breakout:
A previous attempt to break above resistance failed, causing a sell-off.
Potential Scenarios:
Bullish Case: If BTC holds the support zone and breaks the resistance line, it could move towards the 100K+ zone.
Bearish Case: If BTC fails to hold support, it could retest $89,000 as mentioned on the chart.
RSI Divergence:
RSI is showing a slight bullish divergence, meaning price is making lower lows while RSI is making higher lows.
This could indicate a potential reversal or temporary bounce.
Conclusion & Strategy:
Watch the
89K-90K support level closely.
A breakout above the resistance line may confirm a bullish reversal.
If price loses support, the next downside target could be 85K-87K.
RSI divergence suggests a possible short-term bounce.
🚨 Trading Plan:
Long Entry: If BTC reclaims the resistance line with volume confirmation.
Short Entry: If BTC loses support and breaks below89K with strong selling pressure.
Key Observations:
Descending Channel:
Price is moving within a downward-sloping channel with lower highs (LH) and lower lows (LL), indicating a bearish structure.
Major Support & Resistance:
Support: Around $89,000, marked as "major support."
Resistance: Around $105,000, marked as "major resistance."
BTC is currently near support, which could act as a potential bounce zone.
Double Top Formation:
A double top pattern was formed around $105,000, confirming strong resistance.
This led to a rejection and continuation of the downtrend.
Fake Breakout:
A previous attempt to break above resistance failed, causing a sell-off.
Potential Scenarios:
Bullish Case: If BTC holds the support zone and breaks the resistance line, it could move towards the 100K+ zone.
Bearish Case: If BTC fails to hold support, it could retest $89,000 as mentioned on the chart.
RSI Divergence:
RSI is showing a slight bullish divergence, meaning price is making lower lows while RSI is making higher lows.
This could indicate a potential reversal or temporary bounce.
Conclusion & Strategy:
Watch the
89K-90K support level closely.A breakout above the resistance line may confirm a bullish reversal.
If price loses support, the next downside target could be 85K-87K.
RSI divergence suggests a possible short-term bounce.
🚨 Trading Plan:
Long Entry: If BTC reclaims the resistance line with volume confirmation.
Short Entry: If BTC loses support and breaks below
89K with strong selling pressure.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.