Bitcoin Quick Update Today | #47th Update

Good Morning, traders I trust you've been profitable by staying updated on our previous analyses. you'll know the market conditions and movements.

Now BTC showing a bearish momentum according to 4h chart & 1h chart.

I've included charts for 1h and 4H timeframes below for reference.

👉 Now BTC Trading Around $51480

👉 From my analysis, a correction to around 51176 or even as low as 51000 seems probable in the coming hours. If the support at 51000 holds, we may see another pump with targets at 52500 and potentially $53500.

👉 Failing to maintain the 51000 support could lead to further downside, with targets at 50500, 49900, 49800, and 49300.

👉 Notably, there's a significant amount of liquidation orders at $49000, totaling 140.59M, while the 47800 area holds 145.54M in liquidation orders.

👉 BTC has been trading between 52,500 and 50,500 for the past 11 days, indicating an accumulation/consolidation zone. This process may lead to a potential pump in the near future.

According to the 4-hourly chart.

4h Chart

📍- Resistance: $52000

🟢- Support: $50670

According to the 1-hourly chart.

1h Chart

📍- Resistance: $51870

🟢- Support: $51280