This is the Bitcoin / U.S. Dollar - BTCUSD 4-Hour chart on Bitstamp from TradingView.
Chart Analysis:
1. Range Play: BTC has been moving between a major SUPPORT zone at the bottom and a descending trendline at the top.
2. Previous Swings: Chart marks past highs: $66,588 → $63,700 → $64,114 → $64,999 → $65,344. Each lower high shows sellers were in control.
3. Current Move: After touching support, price bounced hard and is now heading up. Green arrow points to the TARGET ZONE around $64,000.
4. Structure: Still under the downtrend line. A break above it is needed to confirm trend reversal.
Key Levels to Watch:
- Support: Green zone at bottom ∼$60,000 - $60,500. Must hold for bullish case
- Target Zone: $64,000 - First major resistance + confluence with trendline
- Resistance: $65,300 - $66,600 area - Previous swing highs. Break here flips structure bullish
Bias: Bullish short-term while above support. If BTC breaks and closes 4H above $64,000 + trendline, next move is toward $65,300+. Rejection at $64K = pullback to support likely.
Educational only. Not financial advice. BTC is volatile - use SL.
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