Timeframe: 4H
Exchange: Binance
Current Price: 94,000.00 USDT
Bitcoin has broken below a rising channel, signaling a potential shift in momentum. After a strong bullish rally, the price failed to hold above the key support level at 95,600.00, which has now turned into resistance. The breakdown from the channel suggests growing bearish pressure.
Key Levels to Watch:
Support turned resistance: 95,600.00
1st Target: 93,000.00 – a psychological and technical level
Final Target: 91,000.00 – if selling pressure continues
The current consolidation below the broken channel indicates indecision, but as long as BTC remains under 95,600.00, the bearish outlook remains intact.
Traders should watch for price action around 93,000. A bounce could lead to a retest of resistance, while a break lower opens the door for a move toward 91,000.
Note: This analysis is for educational purposes only. Always manage your risk properly and use your own discretion when trading.
Exchange: Binance
Current Price: 94,000.00 USDT
Bitcoin has broken below a rising channel, signaling a potential shift in momentum. After a strong bullish rally, the price failed to hold above the key support level at 95,600.00, which has now turned into resistance. The breakdown from the channel suggests growing bearish pressure.
Key Levels to Watch:
Support turned resistance: 95,600.00
1st Target: 93,000.00 – a psychological and technical level
Final Target: 91,000.00 – if selling pressure continues
The current consolidation below the broken channel indicates indecision, but as long as BTC remains under 95,600.00, the bearish outlook remains intact.
Traders should watch for price action around 93,000. A bounce could lead to a retest of resistance, while a break lower opens the door for a move toward 91,000.
Note: This analysis is for educational purposes only. Always manage your risk properly and use your own discretion when trading.
Trade closed: stop reached
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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.
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.