๐ BTC/USDT Technical Analysis (4H Timeframe)
๐ Possible Scenarios
โ Bullish Scenario (Break Above $83,779.66)
If BTC breaks and holds above $83,779.66, it could rally towards $87,826.34 and beyond.
โ Bearish Scenario (Rejection at $83,779.66)
A rejection at this level could push BTC back to $79,732.98, with potential further downside to $76,606.00.
๐ Technical Breakdown
1๏ธโฃ Support & Resistance Levels
Major Resistance: $87,826.34
Intermediate Resistance: $83,779.66
Key Support: $79,732.98
Major Support: $76,606.00
2๏ธโฃ Price Action Analysis
BTC recently bounced from $76,606.00, showing buyer interest at this level.
It is currently consolidating near $82,663.69, struggling to break $83,779.66 resistance.
A break above $83,779.66 could lead to further bullish momentum towards $87,826.34.
However, if BTC fails to break this level, a retest of $79,732.98 or even $76,606.00 is possible.
๐ข Trading Strategy
๐ Long (Buy) Entry:
Entry: Above $83,800
Targets: $87,800 โ $91,800
Stop Loss: Below $82,500
๐ Short (Sell) Entry:
Entry: Below $81,800
Targets: $79,700 โ $76,600
Stop Loss: Above $83,000
๐ Conclusion
๐น BTC is at a key resistance of $83,779.66, and a breakout could signal bullish continuation.
๐น Failure to break this level could result in a pullback towards $79,732.98 or lower.
๐น Watch for volume confirmation before entering a trade.
๐ก Recommendation: Monitor $83,779.66 closelyโbullish breakout leads to upside, while rejection could bring a pullback.