BTC/USD) Make some trand analysis Read The ChaptianSMC trading point update
Technical analysis of Bitcoin (BTC) against USDT on a 4-hour timeframe using key price action concepts. Here's a breakdown of the idea conveyed:
Key Elements in the Chart:
1. Support and Resistance Zones:
Support Level (Yellow Boxes): Indicate areas where buying interest is strong enough to prevent the price from falling further.
Resistance Level: Zones where selling interest is strong enough to halt upward price movement.
These zones have been respected multiple times and serve as potential trade entry or exit points.
2. Breakout Strategy:
The chart highlights breakout points (black circles) above resistance zones, signaling strong bullish momentum.
After breaking resistance, price typically retests the zone as new support before moving higher—this is a classic breakout and retest structure.
3. Target Projection:
The vertical lines represent measured move projections, likely using the height of the prior consolidation range to estimate the next move.
The target point is marked around $112,559.59, indicating a bullish target following the breakout.
4. 200 EMA (Exponential Moving Average):
The 200 EMA at $96,827.38 acts as dynamic support, showing the overall bullish trend is intact.
5. RSI (Relative Strength Index):
RSI values (54.97 and 52.87) suggest neither overbought nor oversold conditions, implying room for further upside.
Mr SMC Trading point
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Conclusion:
The analysis suggests a bullish continuation setup:
BTC has broken out from a consolidation range.
Retesting previous resistance as support.
The bullish target is $112,559.59 based on the breakout projection.
The trend remains bullish as long as price stays above the support zone and 200 EMA.
Pales support boost 🚀 analysis follow)
