The BTC/USDT 4-hour chart suggests a descending channel pattern, indicating a possible continuation of the bearish trend until a breakout occurs.
Descending Channel:
Price activity remains within a downward-sloping channel, with lower highs and lower lows.
The upper trendline acts as resistance, while the lower trendline provides dynamic support.
Resistance: Near $85,000 to $87,500, aligned with the upper trendline.
Support: Around $78,424, the lower limit extending to $72,000 if a breakdown occurs.
(Red Arrow):
If BTC fails to break the resistance, it could drop towards $78,424 and possibly lower.
(Blue Arrow):
A breakout above the descending channel (~$87,500) could trigger a bullish run towards $90,000+.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
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DYOR. NFA
Descending Channel:
Price activity remains within a downward-sloping channel, with lower highs and lower lows.
The upper trendline acts as resistance, while the lower trendline provides dynamic support.
Resistance: Near $85,000 to $87,500, aligned with the upper trendline.
Support: Around $78,424, the lower limit extending to $72,000 if a breakdown occurs.
(Red Arrow):
If BTC fails to break the resistance, it could drop towards $78,424 and possibly lower.
(Blue Arrow):
A breakout above the descending channel (~$87,500) could trigger a bullish run towards $90,000+.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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