BTC Four-Hour Chart Analysis: The Battle Between Bulls and Bears is About to Erupt
The current price of Bitcoin is encountering strong resistance around $93,800. Market sentiment has improved somewhat, but the four-hour technical indicators show that the battle between bulls and bears has entered a heated stage, and tonight may see significant volatility.
1. Four-Hour Technical Indicator Signals
MACD: The DIF and DEA lines are adhering above the zero axis, and the momentum bars are narrowing, indicating a weakening of short-term upward momentum. If a death cross forms, it may trigger a pullback.
RSI (Relative Strength Index): Currently around 60, it has not yet entered the overbought zone, but if it breaks above 70 and then falls back, it may signal a short-term peak.
Bollinger Bands: The price is close to the upper band; if it cannot break through, it may retest the middle band (approximately $92,800).
2. Market Sentiment and Capital Flow
Strong Inflow of Spot ETF Funds: From April 22-23, net inflows into the BTC ETF exceeded $1.8 billion, reaching a new high since January 2025, indicating that institutions are still accumulating on dips.
Decline in Exchange BTC Holdings: On-chain data shows that the BTC balance on exchanges has fallen to its lowest level since December 2016, reducing selling pressure and favoring subsequent upward movement.
Negative Funding Rates in Futures: The funding rate for Binance's BTC perpetual contracts briefly turned negative. If the price continues to rise, it may trigger a short squeeze.
3. Possible Bull and Bear Battle Scenarios Tonight
Bullish Breakout: If it stabilizes above $94,500, the target could be $96,200, or even challenge the psychological level of $100,000.
Bearish Counterattack: If it falls below $93,100, it may accelerate the pullback to $91,700, or even test the key support level of $90,000.
4. Trading Strategy Recommendations
Aggressive Bulls: If the price stabilizes above $94,500, consider entering a long position with a small amount, targeting $96,200, and setting a stop loss at $93,000.
Conservative Bears: If it falls below $93,100, consider a short position, targeting $91,700, and setting a stop loss at $94,600.
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