Bitcoin (BTC) Technical Analysis Summary

1. Daily Chart Analysis

• Current Position and Key Resistance Level: BTC has seen a slight rebound in the key resistance zone around $111,000, with market participants taking profits here.

• Daily Average Fair Value Gap (FVG): The price has entered the FVG between $106,000 and $108,000, which is typically associated with strong demand and buying interest, potentially providing support to prevent a pullback and trigger a bullish reversal.

• Future Trend: If it can hold above the FVG, the price may regain upward momentum and challenge the historical high of $111,000; if it breaks below the FVG, the possibility of further pullbacks increases, with the next important support level at $100,000. Overall, BTC is fluctuating between the $100,000 support level and the $111,000 resistance level, with the current market structure indicating a higher likelihood of a bullish trend, potentially reaching new historical highs in the coming months.

2. 4-Hour Chart Analysis

• Key Order Block Rejection: Within the 4-hour timeframe, BTC faced rejection at the key order block near $110,000, triggering a short-term bearish correction that pushed the price towards the key support area.

• Key Support Area: This area includes the 4-hour order block between $106,000 and $105,000, aligning with the previously broken bull flag that may be tested again. A successful pullback to this area will confirm the prior breakout and lay the groundwork for a new bullish phase, potentially marking the start of a new upward momentum with hopes of breaking above $111,000.

• Risk Factors: Price movement around the support area is crucial; if Bitcoin fails to hold this level and breaks below the order block, the bullish scenario may become invalid in the short term, increasing the risk of a correction towards the $100,000 support level.