#cryptotradingpro Technical analysis on the
$BTC /USD chart (4H)
1. Current situation:
• Price: $106,186
• Trend: Downward, but with signs of a short-term rebound after the local bottom (around $102,000–$98,000).
2. Key levels:
• Resistance:
• $106,385 – the nearest resistance, coincides with the upper border of the descending red trend channel.
• $108,000–$110,000 – strong resistance, previous peaks.
• Support:
• $104,982 – a horizontal level that the price has already tested several times.
• $98,240–$98,173 – a critical support zone (local bottom).
3. Figures and patterns:
• The ascending wedge (orange) was previously broken down.
• Triangle / consolidation - the break occurred down, after which the price gave a strong drop and rebound.
• The price is currently testing the important level of $106,000 from below, which may become a reversal point or a breakout upwards.
4. Indicators:
• BBP (BarBarPower):
• Started showing green histograms - a potential start of bullish power after a strong bearish phase.
• BarUp/BarDn signals:
• The last few candles - BarUp prevails, indicating a short-term upward momentum.
5. What to expect:
• If the price can consolidate above $106,200–106,400, the path to $108,000 opens.
• If it deviates from the current level, a return to $104,982 and even $102,000 is possible.
⚠️Brief conclusion:
🔹 Local uptrend after the drop, but the global trend remains bearish on 4H.
🔹 $106,400 is a key zone for a reversal or breakdown.
🔹 BBP supports a short-term rebound.