BTC ANALYSIS on 12/4 - 4h Frame
After a phase of deep decline with a temporary bottom around $74,000. BTC has now formed a short-term upward trend, creating higher highs and higher lows.
The RSI indicator is above 60, indicating that market momentum is leaning towards the buyers. The RSI has not entered the overbought territory, so the price can continue to rise, but you should be cautious when entering trades at resistance levels.
✍️ Resistance levels: $83,500 - $84,500 | $85,174 - $86,218 | $87,532 - $88,653
✍️ Support level: $81,232
❇️ If BTC breaks the $84,500 price, the next target could be the $85,000 - $88,000 range. Continued upward momentum in the RSI will reinforce this scenario.
⬇️ If the price cannot break the current resistance and forms bearish reversal candlestick patterns, BTC may adjust back to lower support levels or sideways in the $82,000 - $84,000 range.
🛑 Note: This is just a personal opinion for reference based on past data, not investment advice. If you find it helpful, don't forget to follow me.
