Bitcoin 4-Hour Analysis

Analysis:

1. Support and Resistance:

- Immediate Support: Around $104,000.

- Immediate Resistance: Near $106,000.

2. RSI (Relative Strength Index):

- RSI is currently around 50, indicating a market-neutral zone. No signs of overbought or oversold conditions.

3. MACD (Moving Average Convergence Divergence):

- MACD line and signal line are crossing, indicating a potential bullish momentum. However, volume support is not confirmed.

4. Volume Analysis:

- Volume is currently low, which does not support a price breakout. A strong move is unlikely until volume increases.

5. Fundamental News (Short):

- There are reports of increasing BTC adoption, but macroeconomic uncertainty is still a concern. Investors are in a wait-and-see mode.

Impression Tip:

This analysis suggests that the price may test the $104K support level. If it breaks, it could drop to $102K; otherwise, the resistance at $106K might break, indicating bullish momentum. Keep an eye on volume and RSI signals.