Hello traders! Here’s my technical outlook based on the current BTCUSDT (4H) chart structure. BTC previously traded inside a descending channel before breaking out and forming a wide consolidation range. After establishing a pivot low, price reversed and started building a bullish structure with higher lows along an ascending trend line, supported by multiple fake breakouts that confirmed buyer strength.
Currently, BTC tested the 72,500 resistance (supply zone) and faced rejection, followed by a pullback toward the 69,500 demand zone, which aligns with the rising trend line and previous breakout area.
As long as price holds above 69,500 and respects the ascending trend line, the bullish bias remains valid. A bounce from this confluence could push BTC back toward the 72,500 resistance, which is the main upside target. However, if price breaks below 69,500, the bullish structure would weaken and a deeper correction could follow. Manage your risk!
Currently, BTC tested the 72,500 resistance (supply zone) and faced rejection, followed by a pullback toward the 69,500 demand zone, which aligns with the rising trend line and previous breakout area.
As long as price holds above 69,500 and respects the ascending trend line, the bullish bias remains valid. A bounce from this confluence could push BTC back toward the 72,500 resistance, which is the main upside target. However, if price breaks below 69,500, the bullish structure would weaken and a deeper correction could follow. Manage your risk!
Trade attivo
We see that the level we marked gave the expected reaction and Bitcoin began to recover. However, sellers also became more active, which may indicate the beginning of consolidation.Trade chiuso manualmente
After the consolidation, Bitcoin fell below the trend line, which indicates the weakness of the trend itself and its possible change!
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🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.