BTC/USDT 4HOUR UPDATE BY CRYPTOSANDERS !!Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Chart Analysis:- the 4-hour time frame shows that after a significant impulsive surge beyond the 40K level, Bitcoin achieved its yearly high at 44.7K, indicating bullish market sentiment among the participants. It reflects. However, the failure to establish higher resulted in a double-top pattern.
sellers entered the market, causing a notable rejection and a 10% decline. As mentioned in our analysis, the correction ended when the price reached a substantial dynamic support range between the 0.5 and 0.618 Fibonacci retracement levels, which aligned with the recent rising trend line.
Bitcoin will enter a medium-term consolidation phase within this dynamic range until a breakout occurs. However, if the price violates the trendline, the 40K support area will serve as the next important level of interest.
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