hello guys!
In the 4-hour Bitcoin/USDT chart from Binance, a clear ascending trendline supports price movement, indicating a potential bullish structure. Here are the key observations:
Technical Analysis
1- Ascending Trendline Support
The price is respecting an ascending trendline, which has provided multiple touches and acted as a dynamic support level.
A bounce from this trendline around the $83,000-$83,500 range suggests strength in buyers.
2- QML (Quasimodo Level) Formation
A QML (Quasimodo Level) pattern is visible, which typically signals a strong reversal zone.
Price has already reacted to this level, indicating it could be a key turning point before further upside movement.
3- Major Support Zone
A larger support area is identified around the $76,900-$77,600 range that support the price before!
The upper boundary of the ascending channel and the psychological resistance at $89,621 serve as the next major target.
The price could test this level in the coming sessions, provided it maintains its bullish momentum.
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Conclusion
Bitcoin appears to be in an uptrend within a rising channel, with bullish momentum building. If the ascending trendline continues to hold, the next significant target would be around $89,000. However, a break below the QML zone could lead to a retest of lower support near $77,000. Traders should watch for confirmation of trend continuation before entering long positions.
In the 4-hour Bitcoin/USDT chart from Binance, a clear ascending trendline supports price movement, indicating a potential bullish structure. Here are the key observations:
Technical Analysis
1- Ascending Trendline Support
The price is respecting an ascending trendline, which has provided multiple touches and acted as a dynamic support level.
A bounce from this trendline around the $83,000-$83,500 range suggests strength in buyers.
2- QML (Quasimodo Level) Formation
A QML (Quasimodo Level) pattern is visible, which typically signals a strong reversal zone.
Price has already reacted to this level, indicating it could be a key turning point before further upside movement.
3- Major Support Zone
A larger support area is identified around the $76,900-$77,600 range that support the price before!
The upper boundary of the ascending channel and the psychological resistance at $89,621 serve as the next major target.
The price could test this level in the coming sessions, provided it maintains its bullish momentum.
_____________________________
Conclusion
Bitcoin appears to be in an uptrend within a rising channel, with bullish momentum building. If the ascending trendline continues to hold, the next significant target would be around $89,000. However, a break below the QML zone could lead to a retest of lower support near $77,000. Traders should watch for confirmation of trend continuation before entering long positions.
Trade active
you can enter here and add more volume on QML too!Trade closed: target reached
so close to the final target
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👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.
👉 My recommended exchange(you can get up to $5050 bonuses): lbank.one/join/uF7u10M
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.