๐ Bitcoin (BTC/USDT) 4H Chart Analysis
๐ป Trend Breakdown:
BTC is in a descending triangle pattern, with lower highs forming resistance.
The price has broken below the trendline, indicating bearish momentum.
๐ Key Levels:
๐ EMA 200 (Red Line): 100,411.25 USDT โ Acts as major resistance.
๐ Current Price: 97,815.98 USDT โ Trading below the 200 EMA, confirming bearish sentiment.
๐ Support Zone: 95,000 USDT โ A retest could occur before further downside.
๐ Target: 89,351.53 USDT โ The chart suggests a potential drop to this level.
โ ๏ธ Bearish Signals:
โ
Price rejected from descending resistance.
โ
Below the 200 EMA โ Bearish confirmation.
โ
Breakout from the structure, signaling further downside.
๐ก Conclusion:
If BTC stays below the resistance zone, expect further decline toward 89,350 USDT.
If bulls regain control above 100,400 USDT, trend reversal could happen.
๐จ Trade Caution: Monitor volume and price action near the key support! ๐ง