$BTC ๐
๐ 4-Hour Frame
โข The price bounced from $81,600, indicating strong support at this level. However, it is still below the EMA 200, keeping the overall trend bearish.
๐น Resistance: $82,700 - $83,600 - $84,738 - $86,663
๐น Support: $81,600 - $80,460 - $78,500
๐น The $83,600 level is considered a minor resistance, which can act as a barrier to any bullish rebound. If $82,700 is broken, we may see the price test $83,600; if it breaks that, we might see it test $84,738, which is a stronger resistance level.
๐น The MACD is still in the negative zone, with continuous bearish momentum and no clear bullish signal appearing yet.
๐น The RSI is at 31.01, indicating that the price is in the oversold territory, and there may be a coming rebound, but it needs confirmation.
โก๏ธ Upcoming Scenarios:
โ๏ธ Holding above $82,000 and breaking above $83,600 ๐ could push the price towards $84,738 - $86,000 and possibly more, but this requires strong buying momentum.
โ๏ธ Failure to surpass $83,600 ๐ we may see a retest of $82,000, and if this support is broken, a pullback towards $80,460 - $78,500 becomes possible.
๐ 4-Hour Frame
โข The price bounced from $81,600, indicating strong support at this level. However, it is still below the EMA 200, keeping the overall trend bearish.
๐น Resistance: $82,700 - $83,600 - $84,738 - $86,663
๐น Support: $81,600 - $80,460 - $78,500
๐น The $83,600 level is considered a minor resistance, which can act as a barrier to any bullish rebound. If $82,700 is broken, we may see the price test $83,600; if it breaks that, we might see it test $84,738, which is a stronger resistance level.
๐น The MACD is still in the negative zone, with continuous bearish momentum and no clear bullish signal appearing yet.
๐น The RSI is at 31.01, indicating that the price is in the oversold territory, and there may be a coming rebound, but it needs confirmation.
โก๏ธ Upcoming Scenarios:
โ๏ธ Holding above $82,000 and breaking above $83,600 ๐ could push the price towards $84,738 - $86,000 and possibly more, but this requires strong buying momentum.
โ๏ธ Failure to surpass $83,600 ๐ we may see a retest of $82,000, and if this support is broken, a pullback towards $80,460 - $78,500 becomes possible.