💥BTC Analysis - 4 Hour Frame 💥
🔹 Current Price: $106,200
Bitcoin is currently trading near an important resistance at 106,500$ – $107,000, which is the ceiling of a previous peak.
📉 Support Areas:
101,760$ Strong support aligned with Fibonacci 0.786
96,138$ Second and important support at Fibonacci 0.618
📊 Indicators:
The RSI indicator is at 60, providing comfort for upward movement, no overbought condition.
The MACD indicator gave a positive crossover and momentum is gradually improving.
📈 Scenario One :
✅ If we break 107,000$ and hold above it, we aim for resistance at 109,400$ and if breached, the next target could be 112,000$ - $115,000
📉 Scenario Two :
❌ If the breakout fails and the price drops below $101,700, we expect a drop to areas of 96,000$ – $92,000
📌 My Technical Opinion:
As long as the price is above $101,700, the bullish scenario remains dominant.
But we need a clear breakout and hold above 107k to start a new wave.
