(BTC/USD) 4-hour analysis on the Bitstamp exchange,(BTC/USD) 4-hour analysis on the Bitstamp exchange, incorporating various technical indicators and projections:
• Support & Demand Zones:
• A red zone around 93,278 - 95,202, indicating strong support.
• A yellow zone around 98,610, suggesting intermediate resistance.
• A blue zone at 105,705, marking a major resistance level.
• Black Dots: Represent key swing highs, acting as resistance levels.
• Blue Dots: Represent swing lows, indicating potential support.
Price Projection & Analysis:
• The chart suggests a bullish structure, with price expected to bounce from the support zone (95,293 - 95,322) and move upwards.
• If the price breaks the 98,610 resistance, further upside towards 102,057 and potentially 105,705 is expected.
• If the support at 95,202 fails, the price may decline towards 93,278 - 92,000.
