📊 BTCUSD 4H Analysis — Breakout Setup?
Bitcoin is currently trading around $64,800 on the 4H chart.
Price has been respecting a descending trendline for several days, creating a series of lower highs. However, the recent price action shows buyers stepping in strongly from the $63,900–$64,000 support zone.
🔹 Key Resistance: $65,475 → $66,700–$66,900
🔹 Key Support: $63,900–$64,000
🔹 Bullish Scenario: If BTC breaks the descending trendline with a strong 4H candle close and successfully holds the breakout level on a retest, the next potential targets could be around $65,475 and $66,700–$66,900.
🔻 Bearish Scenario: If BTC gets rejected from the trendline/resistance and loses the $63,900 support area, the bullish setup could weaken and a deeper pullback may follow.
Personally, I would wait for confirmation rather than chase the move.
This is just my technical analysis, not financial advice. DYOR. 📈
#BTC #Bitcoin #BTCUSD #Crypto #TechnicalAnalysis #BinanceSquare
Bitcoin is currently trading around $64,800 on the 4H chart.
Price has been respecting a descending trendline for several days, creating a series of lower highs. However, the recent price action shows buyers stepping in strongly from the $63,900–$64,000 support zone.
🔹 Key Resistance: $65,475 → $66,700–$66,900
🔹 Key Support: $63,900–$64,000
🔹 Bullish Scenario: If BTC breaks the descending trendline with a strong 4H candle close and successfully holds the breakout level on a retest, the next potential targets could be around $65,475 and $66,700–$66,900.
🔻 Bearish Scenario: If BTC gets rejected from the trendline/resistance and loses the $63,900 support area, the bullish setup could weaken and a deeper pullback may follow.
Personally, I would wait for confirmation rather than chase the move.
This is just my technical analysis, not financial advice. DYOR. 📈
#BTC #Bitcoin #BTCUSD #Crypto #TechnicalAnalysis #BinanceSquare
