BTC/USDT 4-hour chart !!
The BTC/USDT 4-hour chart highlights key technical levels and potential market movements:
Bitcoin has rebounded strongly from the green horizontal demand zone near $92,000-$94,000, indicating that buyers are coming to defend this crucial level.
A descending trendline continues to act as resistance around the $98,000-$100,000 range. A breakout above this line will signal a shift in momentum towards the bulls.
The recent surge indicates renewed buying interest, and if Bitcoin maintains this upward momentum, it could challenge the descending trendline in the near term.
A breakout above this resistance could open the door for further gains, potentially targeting the $102,000-$105,000 range.
Moving Averages:
The 21-period moving average is currently at $94,105 and could act as a dynamic support level if the price pulls back.
A clean break above the descending trendline could start a strong upward rally, with higher price targets in sight.
If Bitcoin fails to move above the trendline and reverses, retesting the green demand zone becomes possible. A breakdown below this zone could trigger further upward pressure.
Traders should keep an eye out for a decisive breakout or rejection at the trendline to confirm the market’s next direction.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
Bitcoin has rebounded strongly from the green horizontal demand zone near $92,000-$94,000, indicating that buyers are coming to defend this crucial level.
A descending trendline continues to act as resistance around the $98,000-$100,000 range. A breakout above this line will signal a shift in momentum towards the bulls.
The recent surge indicates renewed buying interest, and if Bitcoin maintains this upward momentum, it could challenge the descending trendline in the near term.
A breakout above this resistance could open the door for further gains, potentially targeting the $102,000-$105,000 range.
Moving Averages:
The 21-period moving average is currently at $94,105 and could act as a dynamic support level if the price pulls back.
A clean break above the descending trendline could start a strong upward rally, with higher price targets in sight.
If Bitcoin fails to move above the trendline and reverses, retesting the green demand zone becomes possible. A breakdown below this zone could trigger further upward pressure.
Traders should keep an eye out for a decisive breakout or rejection at the trendline to confirm the market’s next direction.
Let me know if you’d like further assistance or adjustments!
DYOR. NFA
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