Is BTC ready to go higher? BTCUSD on the 4-hour timeframe is showing signs of contraction within a descending channel, indicating potential accumulation before a breakout. The price has been testing the descending trendline resistance, with multiple touches of the outer zone, suggesting buyers are stepping in and attempting to establish higher lows. Volume remains moderate, but a breakout above $98,304 could lead to a test of the next major resistance at $102,000, signaling a shift in momentum. The RSI is hovering near the midline, showing a balanced market without extreme overbought or oversold conditions, leaving room for a strong move in either direction. If BTC fails to break out, a retest of liquidity sweep at $90,000 could occur, but given the price compression and trendline pressure, a breakout appears increasingly likely.
Disclaimer:
This analysis is for educational purposes only and should not be considered financial advice. Trading and investing involve risk, and independent research or consultation with a professional is recommended before making any financial decisions.