analysis 📊Bitcoin BTC-->>USDT Technical Analysis - 4H Timeframe🚀

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Based on the Bitcoin chart provided, here's a detailed technical analysis of the current market situation.

The Bitcoin price is currently trading at 104,124.01 USDT with a slight positive change of +0.23%. The cryptocurrency appears to be in a consolidation phase after recovering from previous lows, now testing key resistance levels.

 

• Bitcoin is currently trading around the 104,000 USDT level, showing signs of consolidation

• Price has formed a clear resistance zone around 106,000 USDT that has been tested multiple times

• Support levels are established around 102,000 USDT and 100,000 USDT

• We can observe a higher low pattern formation since the major drop to approximately 74,000 USDT

 

• Price is trading above both the 50 SMA and 200 SMA, indicating a bullish bias

• The volume profile (visible on the right side) shows significant accumulation around current levels

• Stochchannel indicator is visible with High/Low values

• Multiple timeframe indicators are shown: VP 200 200 1 20 70 Both

 

• The overall sentiment appears cautiously bullish with bitcoin holding above psychological 100,000 USDT level

• The price is consolidating near the upper range, suggesting potential continuation

• Volume analysis indicates accumulation rather than distribution at current levels

 

• Entry Point: 103,800 - 104,300 USDT (on pullbacks to support)

• Stop Loss: Below 102,000 USDT (protecting from false breakouts)

• Take Profit Targets:

  1. First target: 106,000 USDT (previous resistance)

  2. Second target: 108,000 USDT (extension level)

  3. Final target: 110,000 USDT (psychological level)

 

• Only valid if price breaks below 102,000 USDT with conviction

• Entry Point: Below 101,800 USDT after confirmation

• Stop Loss: Above 104,500 USDT

• Take Profit: 96,000 USDT (previous support level)

I would be leaning toward a long position at current levels given the overall bullish structure, with careful risk management. The price consolidation near the highs, combined with holding above key moving averages, suggests potential for upward continuation. However, I would keep stops tight given the potential for increased volatility.

The current BTC price action shows recovery from the recent correction, with the formation of higher lows suggesting renewed buyer interest. The consolidation pattern near the 104,000 level may be forming a base for the next move higher, with a potential breakout above 106,000 USDT being a significant bullish signal.

This analysis is based on the 4-hour timeframe. For more detailed analysis on shorter timeframes (1H, 15min, 5min), consider upgrading to our premium account! Premium members receive real-time alerts, advanced indicator access, and personalized trade setups.

This analysis is for educational purposes only and not financial advice. All trading decisions should be made based on your own research and risk tolerance. Cryptocurrency markets are highly volatile - always use proper risk management techniques.