BTC, 4H , ANALYSIS Bitcoin (BTC) 4H Technical Analysis
Bitcoin is currently trading within an ascending channel on the 4-hour timeframe. After rejecting the channel’s upper boundary, BTC broke below the midline of the channel and is now retesting it as support.
Key Levels:
- Downside Target (Correction): $105,000 (coinciding with the channel’s lower boundary + 4H demand zone).
- Upside Target (Breakout): $114,500 (new all-time high potential upon reclaiming the channel’s upper trendline).
Scenario:
1. If the midline holds as support, BTC could rebound toward the channel’s upper trendline.
2. A confirmed breakout above the channel may trigger a rally toward $114,500.
3. Failure to hold the midline could extend the correction to $105,000, where strong demand is expected.
Trading Strategy:
- Aggressive: Long entries near the midline with stops below $105K.
- Conservative: Wait for a confirmed bounce at $105K or breakout above the channel.
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