Bitcoin/USDT 4 hours chart update ......
Bitcoin has broken out of the symmetrical triangle pattern before time, due to which a short-term bullish momentum was expected.
But as soon as the price of bitcoin reached the strong resistance zone of $116,000 - $116,300, we once again saw price rejection from there.
📉 Currently BTC is trading near $114,900, and it is testing support near EMA(9) and EMA(20). If both these EMAs are broken, then short-term correction is again possible towards $113,000 - $111,900.
💥 Key Levels to Watch:
Resistance: $116,300
Support: $113,100 → $111,900
Breakout Confirmation: strong close above $116,500
⚠️ It is too early to say that the breakout has failed, but the resistance rejection clearly shows that the bulls will have to push harder to sustain the momentum.$BTC