$BTC 📊 Technical Analysis for 4-Hour Frame

1. Candlestick Patterns

• Pattern “Bullish Engulfing”: A bullish engulfing candle appeared after the price retraced to the support level around $105,800, indicating a potential bullish reversal.

• Pattern “Hammer”: A hammer candle formed at the same support level, reinforcing the likelihood of a bullish bounce.

2. Technical Indicators

• Relative Strength Index (RSI): Moving around the level of 45, indicating that the market is not in overbought or oversold conditions, providing room for movement in either direction.

• MACD Indicator: Shows a potential bullish crossover, which may support positive momentum in the coming hours.

3. Support and Resistance Levels

• Support: $105,800 – A strong support level that has been recently tested.

• Resistance: $106,800 – A nearby resistance level that the price may test if the bullish momentum continues.

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🔮 Forecasts for the Coming Hours

• Bullish Scenario: If the price continues to hold above the support level of $105,800, we may see an attempt to break the resistance at $106,800, which could open the way to higher levels such as $108,000.

• Bearish Scenario: If the price breaks below the support level of $105,800, it may head towards lower support levels such as $104,500.