BBitcoin ($BTC ) Price Update: Support and Resistance Analysis on the 1-Hour and 4-Hour Timeframes
Bitcoin ($BTC ) is currently trading around $85,275, down slightly by 1.4% from today’s high of $86,976.
🔎 Key Technical Levels:
• Resistance: Immediate resistance is around $86,000. A breakout above this level could open the way for another test of the daily high at $86,976.
• Current Support: The $84,900 area represents the nearest intraday support, followed by stronger support at the MA(99) around $84,170.
• Momentum (MACD): The 1-hour MACD is showing a short-term bearish crossover, so caution is advised. Watch the next 4-hour candle close for confirmation of the trend.
💡 Conclusion:
As long as Bitcoin holds above the $84,500–$84,900 area, there is still a chance of a rebound toward $86,500+. However, a break below this zone could lead to a retest of the major support around $84,170.
$BTC #Bitcoin
Bitcoin ($BTC ) is currently trading around $85,275, down slightly by 1.4% from today’s high of $86,976.
🔎 Key Technical Levels:
• Resistance: Immediate resistance is around $86,000. A breakout above this level could open the way for another test of the daily high at $86,976.
• Current Support: The $84,900 area represents the nearest intraday support, followed by stronger support at the MA(99) around $84,170.
• Momentum (MACD): The 1-hour MACD is showing a short-term bearish crossover, so caution is advised. Watch the next 4-hour candle close for confirmation of the trend.
💡 Conclusion:
As long as Bitcoin holds above the $84,500–$84,900 area, there is still a chance of a rebound toward $86,500+. However, a break below this zone could lead to a retest of the major support around $84,170.
$BTC #Bitcoin