Price at the time of analysis: 115,280.87 USDT
Timeframe: 4 hours
๐น Current Dynamics:
BTC is showing a confident recovery after the local low at 111,920 USDT.
The price has broken above the Bollinger Middle Band (MB: 114,966), indicating a medium-term trend shift to the upside.
The candles are forming a series of greens, and buying pressure is increasing.
๐ Indicators:
RSI (6): 75.50
โ Overbought zone, a short-term pullback is possible, but the overall trend remains strong.
MACD: 324.06, DIF/DEA diverging
โ Signal for continuation of the bullish momentum
Stochastic RSI: 97.93 / 97.93
โ Also in the overbought zone, supporting the possibility of a short-term correction
๐น Levels:
Resistance: 115,720 (last 24h high)
โ Breakout of this level opens the way to 118,500โ119,000 USDT
Support: 114,966 (Bollinger middle band), then 113,953 (local intraday low)
โ In case of a pullback, these levels may act as rebound zones
๐ 4H Forecast:
๐ผ Likely scenario โ testing resistance at 115,720 with a potential breakout.
If BTC consolidates above 116,000 โ we expect continuation towards 117,800โ118,500.
โ ๏ธ But take into account:
RSI and StochRSI are already overbought
A correction to 114,900โ113,900 is possible before the next upward impulse.
โ Conclusion:
The technical picture is positive โ BTC is recovering after a local drop.
However, a short-term pullback is not excluded. Traders should be cautious at local highs or consider trading with the trend after a confirmed breakout above 115,720.
๐ข Disclaimer
This content is for informational and educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before making any investment decisions. Cryptocurrency trading involves significant risk and may not be suitable for all investors.