BTCUSDT – 4H Timeframe Market Update
Current Price: ~$69,800
Trend: Sideways consolidation within bullish structure
Technical Overview:
Bitcoin is currently consolidating below the key resistance at $70,200, forming a bullish flag pattern on the 4H timeframe. Price is holding above the dynamic support of the 50 EMA, indicating buyers are still in control.
Key Levels:
Resistance: $70,200 – Breakout zone
Major Support: $68,500 – Strong demand area
Trendline Support: Holding from April 3 low
Breakout Target (on confirmation): $72,800 – $73,500
Indicators:
RSI: 56 – Healthy, room for upside
MACD: Bullish crossover building
Volume: Decreasing slightly – breakout likely on next volume surge
Outlook:
Bullish Scenario: Break and close above $70.2K with volume opens the path to $73K
Bearish Scenario: Drop below $68.5K could trigger a correction toward $66.5K–$65K
Trade Plan (Not financial advice):
Long: On 4H candle close above $70,200
TP: $72,800 / $73,500
SL: $68,400
Short (Aggressive): If price fails at resistance with rejection wick
TP: $68,500 / $66,800
SL: $70,300
Summary:
BTC is at a key breakout point. Structure remains bullish above $68.5K. Watch for volume confirmation before entering.