Based on the current price action on the 4-hour chart, Bitcoin is showing signs of a bearish continuation towards the G zone (around the support area highlighted in purple). This move aligns with the rejection from the F level and the overall structure of lower highs.
I anticipate a potential drop to the G zone due to the selling pressure and lack of significant bullish momentum. However, once the price reaches this key support level, we may witness a bounce or consolidation before a potential upward move.
Key Levels to Watch:
Support (G Zone): [$92,500 - $90,000]
Resistance (F Level): [$105,500]
This scenario will be invalidated if Bitcoin closes above the F level, indicating renewed bullish strength. Until then, my bias remains bearish towards G, followed by a possible recovery.
I anticipate a potential drop to the G zone due to the selling pressure and lack of significant bullish momentum. However, once the price reaches this key support level, we may witness a bounce or consolidation before a potential upward move.
Key Levels to Watch:
Support (G Zone): [$92,500 - $90,000]
Resistance (F Level): [$105,500]
This scenario will be invalidated if Bitcoin closes above the F level, indicating renewed bullish strength. Until then, my bias remains bearish towards G, followed by a possible recovery.
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"🤖 Smart Trading Bots | 🚀 Advanced Market Analysis & Strategies | Helping You Trade Smarter, Not Harder!"
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.