$BTC
BTC 4H Update
Bitcoin has recently broken the key support level at $99,400 (blue line), but we've seen strong price rejection and consolidation near this level. As long as the price stays below the blue line, there's a risk of further downward movement, possibly even reaching $92K due to potential scam wicks.
To maintain bullish momentum, Bitcoin must stay above the blue box and form a stable range. A break above the recent swing high at $102K would be a positive signal for bulls, suggesting further upside potential and confirming the strength of the rally.
Currently, price action is happening within a range-bound market, with BTC trading near the middle of the price range. Until we see a clear breakout, caution is advised, as price movements may remain contained within this range.