BTC Technical Analysis – H4 Frame
Currently, BTC is trading around $103,428, after testing the resistance level of $105,000 three times in the past week. The H4 chart shows the formation of an ascending triangle pattern, which often signals a potential price breakout.
• Major resistance: $105,000
• Major support: $98,500
The current RSI indicator is at 68 on the daily chart, not yet in the overbought territory, suggesting that there is still room for bullish momentum.
• Funding rate: Maintained at a neutral level of about 0.007%, indicating that the derivatives market is not overheated.
• Whale activity: The amount of BTC transferred to Binance in the last 30 days decreased to $3.27 billion, the lowest level since November 2024, indicating reduced selling pressure from large investors.
• Open Interest: Increased to $67.47 billion, reflecting growing interest from investors in BTC futures.
• Bullish scenario: If BTC closes the H4 candle above $106,200, a long position can be opened with a stop loss (SL) below $104,500.
• Bearish scenario: If it fails to break out, BTC may return to test the support level of $98,500, which could be an opportunity to accumulate potential altcoins like ONDO, RENDER, and OP, which are of interest to large investors.
The ascending triangle pattern on the H4 chart, combined with positive on-chain data and interest from large investors, suggests that BTC is likely to break out in the near future. However, it is important to closely monitor resistance and support levels to adjust trading strategies accordingly.
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