4-hour BTC/USDT chart
Chart Analysis (4-Hour Timeframe):
Price Action
The chart shows a strong uptrend recently, with the price rising from around $76,000 to $90,212.98.
The price is currently near its all-time high (ATH) of $90,216.08, suggesting bullish momentum.
Resistance: The current ATH at $90,216.08. A break above could target $92,000 or higher.
Volume
- Volume spikes are visible during the dip and the subsequent rally, showing strong participation.
- The Volume EMA (likely a 20-period) indicates increasing volume, supporting the uptrend.
Trend and Momentum
- The consistent higher highs and higher lows confirm a bullish trend.
- The price is well above key levels like $80,000, showing strong momentum.
- However, being near the ATH, there might be some profit-taking or resistance.
*Bullish Scenario*
- If BTC breaks above $90,216.08 with strong volume, it could target $92,000 or higher.
- Look for a pullback to $88,000-$89,000 as a potential buying opportunity if the trend continues.
- **Bearish Scenario**:
- If the price fails to break $90,216.08 and shows rejection (e.g., a long upper wick), it might pull back to $86,000 or $82,000.
- A drop below $86,000 could signal a deeper correction.
- Resistance: $90,216.08 (ATH), $92,000.
- Support: $86,000, $82,000.
Risk Management
Set a stop-loss below $86,000 if entering a long position.
If shorting, place a stop-loss above $90,216.08.
Recommendation:
The trend is bullish, but the price is at a critical resistance (ATH). Wait for a confirmed breakout above $90,216.08 with strong volume for a long position, or a pullback to $88,000-$89,000 for a safer entry. If rejection occurs, consider a short with a stop-loss above the ATH.
