analysis 📊 Bitcoin BTC-->>USDT 4-Hour Chart Analysis

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Current Market Structure

• Price is currently testing the $94,600 resistance level after a recent rally from lows around $76,000

• Multiple rejection wicks at the $96,000 level indicate strong selling pressure at that zone

• Trading volume appears to be concentrated in the $82,000-$86,000 range (visible in the volume profile on the right)

• Bitcoin has been trading in a range between roughly $76,000-$98,000 over the period shown

Key Support & Resistance Levels

• Major Resistance: $96,000 (multiple rejections visible)

• Current Support: $92,000 (green horizontal line)

• Additional Supports: $88,000, $84,000, $82,000, $76,000

• Volume Support: Heaviest at $84,000-$86,000 range

Trading Opportunity

• Current Bias: Cautiously bullish with tight risk management

• Potential Entry: Look for a bounce off $92,000 support with stop loss below $91,500

• Target: Initial take profit at $96,000, extended target at $98,000 if breakout occurs

• Stop Loss: Place below $91,500 to protect capital if support fails

• Risk/Reward: Approximately 1:2 for the initial target

Current Market Sentiment

Bitcoin appears to be consolidating after recovering from a significant drop. The recent bounce suggests buyers are still active, but resistance overhead remains strong. The market structure shows higher lows, which is generally bullish if it continues.

I would personally consider a long position if price confirms support at $92,000, but would remain cautious as rejection from $96,000 could send price back down to test lower supports.

Note: This analysis is based on the 4-hour timeframe only. For more detailed insights and analysis on shorter timeframes (1H, 15m, 5m), upgrade to our premium account!