BTC/USDT 4H Chart Analysis – Is $94K Possible?
Current Price: $96,887.89 (-0.78%)
24H High: $97,741.35
24H Low: $96,609.05
Bearish Factors (Indicating a Drop Towards $94K):
Price Below EMA Levels:
EMA (7) = $97,188.45 (Short-term resistance)
EMA (25) = $97,135.72 (Mid-term resistance)
EMA (99) = $98,027.37 (Long-term bearish trend confirmed)
BTC is trading below all these EMAs, confirming a bearish trend.
Lower Highs & Lower Lows:
The price is constantly making lower lows, with recent support around $96,252.82.
If this support breaks, BTC can drop further.
Strong Sell Pressure:
The Order Book shows only 18.44% buy interest, meaning sellers are dominating.
Support Levels to Watch:
First Support: $96,250
Next Support: $95,500
Major Support at $94,000-$94,500
If BTC loses $95,500, then $94,000 is highly likely.
Verdict: Can BTC Hit $94K?
Yes, there is a strong chance BTC could drop to $94K, especially if it breaks below $96,250 and $95,500. However, if BTC rebounds above $97,500, this bearish outlook could weaken.
