$BTC /USDT – 4H Chart Analysis
Current Price: 105,263
24h Change: -2.95
Range: 24h High:108,891 | 24h Low: 104,600
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Market Structure:
- BTC is in a clear downtrend on the 4H timeframe.
- It failed to hold above108K, and is now making lower highs and lower lows — bearish structure.
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Key Support & Resistance:
- Immediate Support: 104,600 → If this breaks, next zone is103,700 then 102,000.
- Immediate Resistance:105,900 → Then 108,000
- Watch for price reaction near104,600. A bounce could offer a scalp long, but if broken, expect deeper drop.
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Indicators:
- RSI(50): 48.32 → Slightly bearish but not oversold yet.
- Volume: Declining on red candles = selling pressure fading a bit.
- MACD: Bearish crossover confirmed, momentum still negative.
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Trade Plan:
Option 1 – Short-Term Long (If 104.6K Holds):
- Entry:104,700 – 105,200
- TP:106,200 – 107,000
- SL: Below104,300
Option 2 – Wait for Breakdown (If 104.6K Fails):
- Entry (Short): On candle close below104,600
- TP: 103,700 then102,000
- SL: 105,400
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Summary:
Market is weak. Don’t jump in blindly. Wait for confirmation at104.6K zone.
If you trade, use small leverage and tight SL. Let me know if you want a 1H confirmation too.$BTC
