📊 $BTC USDT 4H Analysis
BTC is currently trading around 117K, following an established uptrend channel. While the overall structure remains bullish, momentum is beginning to weaken. Each candle is showing less strength, hinting that the uptrend may be running out of steam.
The recent volatility spike was news-driven, but since then the move has slowed. On the moving averages, both the 21 and 50 MAs are still trending upward, yet price has stretched far away from them. This distance often signals that a pullback or mean reversion is likely.
Momentum indicators confirm the slowdown. RSI (7) is holding around 65, still in bullish territory but suggesting limited upside potential as momentum fades. Despite trading volume, price is struggling to make significant progress higher.
Another key factor is Fibonacci. The uptrend is approaching the 0.618 retracement level of the previous major move,( historically a zone where reversals often occur). If price continues to show weakness near this level, the risk of a trendline breakdown increases.
🔎 Outlook:
BTC remains in an uptrend but is showing clear signs of exhaustion. Watch for a potential retest of moving averages and a possible break below the trendline if weakness persists.
