$BTC Bitcoin 4-Hour Analysis
Current Price: $93,740
#support Level
$91,800 – This is the area where the price paused and then bounced up last time. If the price drops again, this level could act as a strong support and potentially trigger a bounce.
$BTC $95,200 – This is near the recent high. If the price breaks above this level, the next upward move could be strong. If it fails, there could be a small rejection or pullback from here.
#RSI (Relative Strength Index)
The RSI is currently above 80, which puts it in the "overbought" zone. This means the price has gone up quite a bit, and it might need to rest. In this zone, we often see a short-term pullback or sideways movement.
MACD (Moving Average Convergence Divergence)
The blue line has crossed above the orange line, which is known as a bullish crossover. Also, the histogram is showing green bars. Both of these are signs that the momentum is currently in favor of the buyers.
The recent candles have come with good volume. When price increases and is supported by strong volume, the move is considered genuine. If volume were low, it could have been a fake breakout.
#fundamentals news
Donald Trump made a pro-crypto statement, which the market saw as a bullish sign.
Money is flowing into Bitcoin ETFs, showing that big institutional players are showing interest.
Everyone is watching the $100,000 level, creating a lot of hype and excitement in the market.
