Based on the BTC/USD 4H chart you shared, here’s a detailed breakdown of the technical analysis:
---
🟠 Pattern & Setup
- Double Top Formation: Clearly highlighted at the recent highs, signaling potential bearish reversal. This is a classic sign of buyers losing steam near a resistance level.
- Rejection Arrows: Indicate strong resistance where price failed to break higher, adding confluence to the reversal idea.
---
🔻 Sell Bias & Confirmation
- Sell Zone: Around the double top zone (~$93,700+), price is stalling and showing bearish pressure.
-Bearish Arrow: Suggests a move downward is anticipated, likely toward the support zone and trendline confluence.
---
📉 Key Support Zone
- Support Zone Highlighted: Around $88,000–$89,000, where previous structure and buying interest occurred. This is the first potential target for a bearish move.
- Trendline Confluence: Also aligns with the support, adding strength to this level. If price breaks and closes below both, further downside could follow.
---
☁️ Ichimoku Cloud
- Price is currently above the cloud**, indicating short-term bullish structure still intact. However, a break below the support + cloud would be a strong bearish signal.
---
🔑 What to Watch For
- Bearish Confirmation: If the neckline of the double top breaks (around ~$92,250–$92,150), it could confirm the pattern and trigger the move toward support.
- Invalidation: A breakout above the double top would invalidate this bearish setup and suggest continuation toward higher highs.
---
✅ Summary
- Bias: Bearish (short-term)
- Trigger: Break below ~$92,150
- Target 1: $88,000–$89,000 support zone
- Trendline + Cloud support: Key areas to watch for either a bounce or further breakdown
Sell Setup: Double Top Formation
Entry Zone: Around 93,700 (top of the double top)
---
Take Profit Levels:
- TP1: 91,600
Just above the neckline for a safer partial exit.
- TP2: 89,300
Aligns with the major support zone and previous consolidation area.*
- TP3: 87,000
At the trendline + cloud support confluence — a strong area for a possible bounce.
---
🟠 Pattern & Setup
- Double Top Formation: Clearly highlighted at the recent highs, signaling potential bearish reversal. This is a classic sign of buyers losing steam near a resistance level.
- Rejection Arrows: Indicate strong resistance where price failed to break higher, adding confluence to the reversal idea.
---
🔻 Sell Bias & Confirmation
- Sell Zone: Around the double top zone (~$93,700+), price is stalling and showing bearish pressure.
-Bearish Arrow: Suggests a move downward is anticipated, likely toward the support zone and trendline confluence.
---
📉 Key Support Zone
- Support Zone Highlighted: Around $88,000–$89,000, where previous structure and buying interest occurred. This is the first potential target for a bearish move.
- Trendline Confluence: Also aligns with the support, adding strength to this level. If price breaks and closes below both, further downside could follow.
---
☁️ Ichimoku Cloud
- Price is currently above the cloud**, indicating short-term bullish structure still intact. However, a break below the support + cloud would be a strong bearish signal.
---
🔑 What to Watch For
- Bearish Confirmation: If the neckline of the double top breaks (around ~$92,250–$92,150), it could confirm the pattern and trigger the move toward support.
- Invalidation: A breakout above the double top would invalidate this bearish setup and suggest continuation toward higher highs.
---
✅ Summary
- Bias: Bearish (short-term)
- Trigger: Break below ~$92,150
- Target 1: $88,000–$89,000 support zone
- Trendline + Cloud support: Key areas to watch for either a bounce or further breakdown
Sell Setup: Double Top Formation
Entry Zone: Around 93,700 (top of the double top)
---
Take Profit Levels:
- TP1: 91,600
Just above the neckline for a safer partial exit.
- TP2: 89,300
Aligns with the major support zone and previous consolidation area.*
- TP3: 87,000
At the trendline + cloud support confluence — a strong area for a possible bounce.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.