The BTC/USDT 4-hour chart suggests a descending channel pattern, indicating a possible continuation of the bearish trend until a breakout occurs.
Descending Channel:
Price activity remains within a downward-sloping channel, with lower highs and lower lows.
The upper trendline acts as resistance, while the lower trendline provides dynamic support.
Resistance: Near $85,000 to $87,500, aligned with the upper trendline.
Support: Around $78,424, the lower limit extending to $72,000 if a breakdown occurs.
(Red Arrow):
If BTC fails to break the resistance, it could drop towards $78,424 and possibly lower.
(Blue Arrow):
A breakout above the descending channel (~$87,500) could trigger a bullish run towards $90,000+.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
Descending Channel:
Price activity remains within a downward-sloping channel, with lower highs and lower lows.
The upper trendline acts as resistance, while the lower trendline provides dynamic support.
Resistance: Near $85,000 to $87,500, aligned with the upper trendline.
Support: Around $78,424, the lower limit extending to $72,000 if a breakdown occurs.
(Red Arrow):
If BTC fails to break the resistance, it could drop towards $78,424 and possibly lower.
(Blue Arrow):
A breakout above the descending channel (~$87,500) could trigger a bullish run towards $90,000+.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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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.
Related publications
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.