#TradeWarEases On the 4-hour time frame (H4) Bitcoin (BTC) indicates a slightly downtrend with mixed signals:
๐ Technical indicators
- Moving Average (MA) 50: Tilts downward, suggesting short-term selling pressure.
- Moving Average (MA) 200: Also tilts downward, indicating medium-term weakness.
- RSI (Relative Strength Index): It is in the neutral zone (30-70), suggesting a lack of clear direction.
๐ Key levels
- Resistance: $105,000 - an important threshold to watch out for, once breached could signal a continuation of the uptrend.
- Support: 103,000 USD - holding above this level is crucial to avoid a sharper decline.
๐ฎ 4-hour prediction
If BTC holds above the USD 103,000 support, there is a chance of consolidation and a possible retest of resistance at USD 105,000. However, a drop below this support could lead to a deeper correction.
It is recommended to monitor the price development and pay attention to the signals provided by technical indicators to make informed decisions.