Bitcoin (BTC/USD) Technical Analysis: Key Levels and Potential SThe chart highlights critical support and resistance levels along with possible price scenarios for Bitcoin (BTC/USD) on the 4-hour timeframe. The combination of technical patterns and momentum indicators offers a roadmap for potential future movements.
Key Levels:
Resistance at $95,600:
The $95,600 level serves as a key resistance point. A breakout above this level could signal a bullish continuation toward $100,740.93, aligning with the upper boundary of the channel.
Support Zone at $91,400–$90,400:
This area is a strong support zone, highlighted in blue, and represents a potential bounce point if the price continues to decline. Failure to hold this level could push Bitcoin further downward.
Lower Support Levels:
$82,265.90 and $76,125.14 are critical lower support levels if bearish momentum intensifies.
Scenarios:
Bullish Scenario: If Bitcoin rebounds from the $91,400–$90,400 support zone and breaks above $95,600, we could see a rally toward the $100,740.93 target.
Bearish Scenario: A breakdown below the $91,400–$90,400 zone could lead to a decline toward $82,265.90 or even $76,125.14, driven by increased selling pressure.
Indicator Insights:
DT Oscillator: Currently in the oversold zone, suggesting a potential short-term bounce. However, confirmation is needed from price action and resistance levels.
Conclusion: Bitcoin is at a pivotal point with significant support and resistance levels clearly defined. Traders should monitor price reactions closely around the $91,400–$90,400 zone and watch for a breakout or breakdown for directional cues.
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⚠ Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making trading decisions.
