BTC/USDT: Rising Channel Pattern | Critical Support Test
BINANCE:BTC/USDT - 4H TIMEFRAME 🎯
CURRENT ANALYSIS:
━━━━━━━━━━━━━━━━
✦ CURRENT PRICE: $95,921.70 (-1.21%)
✦ CHANNEL SUPPORT: ~$92,500
✦ CHANNEL RESISTANCE: ~$114,000
✦ KEY TIMEFRAME: 4H
TECHNICAL STRUCTURE:
━━━━━━━━━━━━━━━━
1. CHANNEL FORMATION:
• Price trading within ascending channel
• Strong support at lower channel boundary
• Upper boundary showing resistance
2. PRICE ACTION FORECAST:
• Potential volatility increase ahead
• Projected movement (white line):
- Initial bounce to $105,000
- Further rise to $114,000
- Possible reversal back to support
3. CRITICAL LEVELS:
• Major Support: $92,500-$95,000
• Key Resistance: $107,000-$108,000
• Channel Top: ~$116,000
TRADING IMPLICATIONS:
━━━━━━━━━━━━━━━━
SHORT-TERM OUTLOOK:
• Channel boundaries providing clear trading ranges
• Current price testing support zone
• Volatility expected to increase
RISK FACTORS:
• Break below channel support (~$92,000)
• Increased selling pressure at resistance
• Market sentiment shifts
KEY OBSERVATIONS:
━━━━━━━━━━━━━━━━
• Price currently testing critical support
• Channel structure remains intact
• Projected movement suggests volatility ahead
• Trading volume will be crucial for confirmation
RISK DISCLOSURE:
━━━━━━━━━━━━━━━━
This technical analysis is for educational purposes only. Always manage risk appropriately and never trade more than you can afford to lose.
#Bitcoin #BTC #TechnicalAnalysis #CryptoTrading #TradingView
Tags: TradingView
CURRENT ANALYSIS:
━━━━━━━━━━━━━━━━
✦ CURRENT PRICE: $95,921.70 (-1.21%)
✦ CHANNEL SUPPORT: ~$92,500
✦ CHANNEL RESISTANCE: ~$114,000
✦ KEY TIMEFRAME: 4H
TECHNICAL STRUCTURE:
━━━━━━━━━━━━━━━━
1. CHANNEL FORMATION:
• Price trading within ascending channel
• Strong support at lower channel boundary
• Upper boundary showing resistance
2. PRICE ACTION FORECAST:
• Potential volatility increase ahead
• Projected movement (white line):
- Initial bounce to $105,000
- Further rise to $114,000
- Possible reversal back to support
3. CRITICAL LEVELS:
• Major Support: $92,500-$95,000
• Key Resistance: $107,000-$108,000
• Channel Top: ~$116,000
TRADING IMPLICATIONS:
━━━━━━━━━━━━━━━━
SHORT-TERM OUTLOOK:
• Channel boundaries providing clear trading ranges
• Current price testing support zone
• Volatility expected to increase
RISK FACTORS:
• Break below channel support (~$92,000)
• Increased selling pressure at resistance
• Market sentiment shifts
KEY OBSERVATIONS:
━━━━━━━━━━━━━━━━
• Price currently testing critical support
• Channel structure remains intact
• Projected movement suggests volatility ahead
• Trading volume will be crucial for confirmation
RISK DISCLOSURE:
━━━━━━━━━━━━━━━━
This technical analysis is for educational purposes only. Always manage risk appropriately and never trade more than you can afford to lose.
#Bitcoin #BTC #TechnicalAnalysis #CryptoTrading #TradingView
Tags: TradingView
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.