๐ Analysis of Bitcoin behavior on the 4-hour frame:
Bitcoin has recently succeeded in breaking the downward trend shown by the blue sloping line, and this break is considered a positive technical signal for a potential change in the overall trend towards upward.
๐ But letโs analyze logically:
๐น The first resistance (number 1 in the image): It was successfully broken at the level of 108,800, and it was considered a very important barrier, with a strong candle close occurring at that level, which is evidence of buyer strength.
๐น The second resistance (number 2): At the level of 110,000, this is a very critical area from which the price has bounced back multiple times before. Therefore, we expect it to be a strong selling area for speculators, and a correction is likely to occur before any attempt to break through.
๐น The third resistance (number 3): Around 112,000 โ represents an extension of higher resistances, and breaking it means entering a stronger upward wave.
---
๐ Expected scenario:
It is likely that Bitcoin will return to test the previous break area (at number 1 = 108,800), to confirm it as new support โ
If the price holds and bounces from this area, it will be strong evidence of readiness to break the second resistance (110K) and move towards 112K.
โ ๏ธ However, if it fails to stay above area 1, it will return to the fluctuation range and may head towards the gray support area again (105K).
๐ Follow ๐
@ALKING_TRADER
-----
#ุชุญููู_ุงูุจูุชูููู
#ุงูุนู ูุงุช_ุงูุจุฏููุฉ
Yemen
