The 4-hour
$BTC /USDT chart on Binance shows Bitcoin trading at $94,894.57, down 0.15% in the current session. After a significant rally from around $84,000 to a peak of $95,459.99 (24-hour high), the price has entered a consolidation phase, oscillating between $94,000 and $95,000. This suggests a potential pause as the market digests recent gains.
The chart displays a strong uptrend over the past 180 days, with a 50.94% increase, driven by high buying volume, as seen in the volume bars spiking during the rally around April 22–25. However, the recent decrease in volume indicates waning momentum, which could signal a short-term pullback or continued consolidation. The 24-hour trading volume of 15,074.20 BTC (1.43B USDT) remains robust, reflecting sustained interest.
Price action shows Bitcoin struggling to break above the $95,000 resistance level, with the 24-hour low at $93,742.54 acting as immediate support. If this support holds, we might see another push toward $95,500 or higher. Conversely, a break below $93,742 could lead to a deeper correction toward the $90,000 psychological level, where previous consolidation occurred.
The candlestick pattern reveals indecision, with smaller bodies and longer wicks forming over the last few 4-hour periods, hinting at a potential reversal or continuation depending on the next breakout. The Simple Moving Average (SMA) on the volume indicator suggests that buying pressure remains dominant, but a divergence between price and volume could indicate caution.
Key levels to watch: resistance at $95,500 and support at $93,742, with $90,000 as a secondary support. The overall trend remains bullish, but the lack of strong momentum and high volatility (recent 7-day change of -7.70%) suggests a cautious approach. Traders should monitor for a breakout above $95,500 for confirmation of bullish continuation or a drop below $93,742 for a bearish shift. Until then, expect range-bound action.
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