Bitcoin (BTC/USD) 4H Analysis: Bullish Breakout or Pullback?๐ Key Observations:
๐น ๐ Trendline Breakout: The descending trendline (white) has been broken, signaling a potential uptrend.
๐น ๐ Support & Resistance Zones:
๐ข Strong Support (~$80,349 - $82,000): ๐ If price drops, this zone could act as a bounce area. ๐ Stop-loss is placed below.
๐ก Resistance (~$86,000 - $88,000): ๐ Currently testing this levelโeither a breakout or a rejection could follow.
๐ต Next Target (~$94,000): ๐ If Bitcoin pushes above resistance, this could be the next stop.
๐ Possible Price Action Scenarios:
โ
Bullish Path:
๐ข Breaks Above $86,000 โ Targets $94,000 ๐
๐ Small retest of support before continuing up ๐
โ Bearish Path:
โ Rejected at $86,000 โ Pullback to $82,000 ๐ฝ
๐ If support fails, price may drop further
๐ฏ Conclusion:
๐ฅ Bullish Bias: ๐ข A breakout above $86,000 increases the chance of hitting $94,000+.
โ ๏ธ Watch for retests! ๐ A pullback before an upward move is possible.
๐ Final Thought: If BTC **
