$BTC Technical analysis report for $BTC /USDT based on the 4H chart:

🧠 Chart Overview (4H Timeframe)

Current Price: $103,421.22

24h Change: ▼ -1.29%

24h High: $106,524.65

24h Low: $102,345.00

Volume: 16,479 BTC / $1.72B USDT

🔍 Price Action Analysis

BTC recently dropped from a local high of $108,952 to a low of $102,345, signaling strong bearish pressure.

There was an attempted recovery, but the latest candle remains below the key $104,000 resistance, indicating rejection and weakness.

📉 Trend Analysis

The short-term trend is bearish as price forms lower highs and lower lows.

Bearish engulfing candles signal strong seller momentum.

📊 Support & Resistance Levels

Resistance Levels:

$104,900 – Near-term resistance (previous rejection)

$106,500 – 24h high

$108,950 – Major resistance

Support Levels:

$102,345 – Recent low and critical support

$101,000 – Psychological support

$100,000 – Strong psychological + technical support

📈 Indicators Insight (Based on Chart Structure)

Momentum: Weak with lower buying interest after each bounce.

Volume: High selling volume in last candles → suggests distribution phase.

Candle Patterns: Long upper wicks and bearish bodies → signals bull trap / selling pressure.

📌 Trading Recommendation

🔺 Short-Term Strategy (4H)

Bias: Bearish

Entry for Short: Around $104,000–$104,900

Stop Loss: Above $106,000

Target: $102,000 → $100,000

🔻 If Going Long (Risky)

Entry: Wait for confirmation above $106,500

Stop Loss: Below $104,000

Target: $108,500+

✅ Final Verdict:

Not ideal for long trades right now. The market shows weakness with risk of further decline. Best to short on resistance or wait for bounce confirmations near $100K for safer entry.