As of writing, Bitcoin is trading around $117,000, consolidating within a tight range after testing local highs. Here's a breakdown of the current 4-hour chart structure and key indicators:
🔹 Trend & Structure:
BTC is forming a symmetrical triangle near the top of a rising channel.
Higher lows and lower highs suggest consolidation before breakout.
Major resistance lies at $117,800–$118,500.
Support zone: $115,600–$116,200.
🔹 Key Indicators:
RSI (14): ~54 — neutral but trending upward; room for continuation.
MACD: Bullish crossover recently formed, histogram turning green — early signal of upward momentum.
Volume: Decreasing during consolidation — a potential sign of upcoming volatility.
EMA 50/200: Price is above both, confirming medium-term bullish bias.
📈 Forecast for the Next 4 Hours:
If BTC breaks above $118,000 with volume, we could see a quick surge to $119,300–$120,000.
Failure to break out may lead to a short-term retest of $116,200, with possible wicks down to $115,500.
Probability favors a bullish breakout, but traders should monitor volume and confirmation candles closely.
🛑 Disclaimer: This is not financial advice. Always do your own research and manage risk accordingly.
💬 What do you think — breakout or fakeout? Let me know in the comments!
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