Bitcoin (BTC/USD) Analysis Bitcoin (BTC/USD) price Analysis 4-hour time frame with key technical levels and patterns:
1. Resistance Zone: The green area near $110,837 indicates strong selling pressure, representing a significant hurdle for further upward movement.
2. Support Levels: Two critical support zones are marked:
Near $102,187, providing immediate buying interest.
At $98,686, acting as a stronger fallback level for potential price rebounds.
3. Trend: The chart suggests a bullish bias, with the price holding above the support zone and showing potential for upward momentum.
4. Price Targets (TP): Two take-profit levels are identified:
$104,500 as the initial target.
$107,500 as the secondary target, suggesting potential upside if the price clears the resistance.
5. Chart Pattern: A consolidation phase near the support zone, followed by attempts to break higher, indicates building bullish momentum.
This analysis suggests a cautiously optimistic outlook, with key support levels holding and potential for upward movement toward the defined targets.
NOTE This analysis is for informational purposes only and does not constitute financial advice,
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