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BTC/USD 4-hour chart illustrates a clear technical pattern analysis with key support and resistance levels:
1. Resistance Zone: The price reached the resistance area multiple times (marked as points 1, 5, and 7), indicating a strong selling zone near $109,800.
2. Previous Support Zone: The red area highlights previous support, which has acted as a key pivot point, later becoming a consolidation region around $100,700.
3. Strong Support: The price has bounced off a strong support zone around $95,990 multiple times (points 2, 4, and 6), reinforcing its reliability.
4. Trend: The upward trend after point 6 suggests bullish momentum, with buyers pushing prices higher toward resistance.
5. Targets (TP): Potential take-profit levels are set at $104,300 and $106,400, aligning with the breakout above resistance and strong momentum.
BTC/USD suggests a bullish continuation if the price holds above resistance, while a drop below support zones may signal weakness.
NOTE: This Analysis For Educational Purposes Only don’t Consider it trading Advice
Bitcoin
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