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BTCUSD 4 HR ANALYSIS | SHORT TRADE
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🚀 Bitcoin (BTC) Price Analysis - 4-Hour Timeframe 📊
Chart Overview:
Current Price: $96,935.44
Timeframe: 4-Hour chart
Date Published: December 20, 2024
Key Features:
Trend Channel: The chart illustrates a red ascending channel that represents the previous upward trend in Bitcoin’s price.
Support and Resistance Levels:
Resistance Level: Identified at $99,612.38
Support Level: Identified at $89,438.39
Price Movement: Recently, there has been a significant price drop depicted on the chart.
Potential Drop: A green arrow indicates a potential price drop of 9.30%, equating to -$9,171.21.
Discussion Point: The chart poses the question, “Can Bitcoin drop 10% from next week (23 Dec 2024)? Comment what you think?
Analysis :
Conclusion: Monitor the key support and resistance levels closely. The breach of the ascending channel and the significant price drop could suggest a trend reversal, warranting caution for bullish positions. Stay tuned for updates as we approach the critical date of December 23, 2024.
Note - This is Only for education purpose.
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Chart Overview:
Current Price: $96,935.44
Timeframe: 4-Hour chart
Date Published: December 20, 2024
Key Features:
Trend Channel: The chart illustrates a red ascending channel that represents the previous upward trend in Bitcoin’s price.
Support and Resistance Levels:
Resistance Level: Identified at $99,612.38
Support Level: Identified at $89,438.39
Price Movement: Recently, there has been a significant price drop depicted on the chart.
Potential Drop: A green arrow indicates a potential price drop of 9.30%, equating to -$9,171.21.
Discussion Point: The chart poses the question, “Can Bitcoin drop 10% from next week (23 Dec 2024)? Comment what you think?
Analysis :
- The ascending trend channel suggests that Bitcoin has been in an upward trend.
- The recent price action shows a breach of this channel, hinting at a possible trend reversal.
- Key support at $89,438.39 needs to be monitored, as a break below this level could confirm further downside.
- The potential 9.30% drop indicates market uncertainty, potentially leading to a larger correction.
Conclusion: Monitor the key support and resistance levels closely. The breach of the ascending channel and the significant price drop could suggest a trend reversal, warranting caution for bullish positions. Stay tuned for updates as we approach the critical date of December 23, 2024.
Note - This is Only for education purpose.
Follow and give Like
Trade ativo
near to price i share in this post i am waiting for rejectionNota
Going in my direction let see i will take 89K target
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