#BullishIPO 📢 Technical Analysis of $BTC – 4-Hour Frame

🔸 The price is currently trading at 117,400$ after a drop from the peak of $124,000

🔸 The moving averages (50 and 100) are acting as nearby resistance

🔸 The RSI indicator is below the level of 50 after a negative divergence → Clear selling pressure

🔸 The cloud (Ichimoku) is still negative and the price is below it

🎯 Positive Scenario:

– In case of breaking 118,500$ and stabilizing above it

– Targets: 119,300 → 120,500 → 122,000

❌ Negative Scenario:

– In case of breaking 116,500$ with a 4-hour candle close

– Targets: 115,000 → 113,800 → 112,000

📌 Note: It is preferable to wait for a candle close for confirmation before any entry.

⚠️ Disclaimer: This analysis is for educational purposes only and does not represent financial advice.