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.
Trade active
active Trade closed: target reached
target hitt
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join telegram for free signal on gold and different markets
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.