#nextmove #tradingtechnique $BTC

BTC/USDT 4-Hour Chart Analysis

Based on the BTC/USDT chart (4-hour timeframe)

Technical Analysis

1. Exponential Moving Averages (EMA):

EMA 10 (Yellow): At 93,947, acting as immediate dynamic resistance.

EMA 55 (Pink): At 96,289, representing a key level to overcome for a potential short-term trend reversal.

EMA 100 (Purple): At 96,620, serving as another resistance in a recovery attempt.

EMA 400 (Green): At 91,952, currently providing dynamic support. The price trading above this level suggests a possible bounce.

2. Support and Resistance Levels:

Key Resistance: At 94,685 (24-hour high) and 95,696 (near the EMA 55 level).

Key Support: At 91,203 (24-hour low) and 91,952 (EMA 400).

3. Volume Analysis:

A noticeable increase in volume during recent red candles indicates that selling pressure dominated. However, this could also signify absorption by buyers.

4. Current Trend:

Prevailing Downtrend: Evident from the bearish crossover of EMAs (EMA 10 and EMA 55 below EMA 100).

Potential Bounce: The price is attempting to break above EMA 10. A successful consolidation above this level may pave the way toward EMA 55 (96,289).

Projections and Conclusion

1. Bullish Scenario:

If the price breaks and closes above 94,685, it could target 96,620 (EMA 100) and move toward the 98,231 level.

2. Bearish Scenario:

A loss of support at 91,952 (EMA 400) may push the price toward the recent low of 91,203, with further downside potential to 90,627.

3. Key Indicator:

Observing price behavior around EMA 10 (93,947) and monitoring volume in this area will be crucial. Increased bullish volume would confirm buyers' intention to regain control.