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

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This analysis is based on the 4-hour timeframe for Bitcoin (BTC/USDT). For access to even more precise and short-term setups, consider upgrading to a premium account for exclusive, lower timeframe analyses!

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1. Current Market Structure & Trend

• Price Action: BTC is currently trading around $109,547.99, showing a recent bounce from lower levels and a test of multiple resistance zones.

• Trend: The market has experienced a strong upward movement followed by a sharp correction, indicating volatility and a possible shift in momentum.

• Support & Resistance: Several horizontal support and resistance zones are clearly marked, with price currently sitting near a major resistance cluster.

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2. Key Levels

Level Type	Price Range (approx.)
Major Resistance	108,000 – 110,000
Intermediate Res.	104,000 – 106,000
Major Support	94,000 – 96,000
Intermediate Supp.	98,000 – 100,000

 

• Current Price: $109,547.99

• Immediate Resistance: $110,000

• Immediate Support: $104,000, then $100,000, with a stronger base at $96,000

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3. Chart Patterns & Formations

• Double Top Formation: There is a potential double top forming near the $110,000 zone, which could signal a bearish reversal if confirmed by a breakdown below support

• Projected Move: The marked blue and green lines suggest a possible retracement towards the $96,000–$98,000 support zone, followed by a potential bounce back up to $102,000–$104,000

• Volatility: Recent price action shows long wicks and sharp moves, indicating high volatility and the likelihood of stop hunts.

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4. Trading Sentiment & Strategy

• Sentiment: The market is currently neutral to slightly bearish in the short term, with risk of a deeper correction if $104,000 support fails.

• Best Play Right Now:

  • Short Position: Consider shorting near $109,500–$110,000 resistance, targeting $100,000–$98,000 with a stop loss above $111,000.

  • Long Position: Look for a bullish reversal pattern or strong bounce at $96,000–$98,000 support, targeting $102,000–$104,000, with a stop loss below $95,000.

• Take Profits:

  • For shorts, take profit at $100,000 and $98,000.

  • For longs, take profit at $102,000 and $104,000.

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5. Risk Management

• Stop-Loss: Always use a stop-loss to manage risk. Suggested levels: above $111,000 for shorts, below $95,000 for longs.

• Position Sizing: Adjust your position size according to your risk tolerance and account size.

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6. Additional Observations

• Liquidity Zones: The green bands highlight high liquidity areas where price is likely to react strongly.

• Potential for Fakeouts: Given the recent volatility, be cautious of false breakouts above resistance or below support.

• Momentum Indicators: While not shown, consider using RSI or MACD for additional confirmation on entries and exits.

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This analysis is conducted on the 4-hour timeframe. For more detailed and faster trading signals, unlock premium access and get exclusive insights on lower timeframes!

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Disclaimer:
This is not investment advice. Every trading decision should be made independently and based on your own research and risk assessment.