Bitcoin traders, are you ready? The king of cryptocurrencies faces a critical moment on the 4-hour chart! Will it break the stubborn resistance at $110,000, or will it pull back to catch its breath before a bigger leap? Here’s a detailed market forecast!
📊 1. Support and resistance areas: The battle lines!
• Resistance: $110,000 (this is the last local peak, where a strong reaction from sellers is observed. A very strong barrier!).
• Support: $105,000 (this is where the highest volumes and previous bounces are concentrated, supported by POC levels - price control points).
• Next support: $103,000 (a vital level resulting from previous consolidations).
🔍 2. Trend and price movement: The pulse of the market!
• Trend: In the short term, the upward trend remains dominant (higher lows and higher highs are forming), but a stronger supply wick has appeared at resistance – indicating a potential local pullback soon.
• Potential correction: Expect a correction towards the nearest support areas, with a possibility of a bounce from POC/VAL/VAH levels.
• Price channel: You can draw a channel between $107,000 and $110,000 as a range for the current fluctuations.
📌 3. Indicators: What do the tools say?
• Stochastic Oscillator: Approaching the overbought zone (above 75)! This is a strong signal for a potential short-term pullback!
• CHOP Indicator: Low! This means the market has just exited a consolidation state and entered a trend (suggesting that another strong movement may develop after the correction!).
📊 4. Japanese candle structures: The language of the market!
• Last candle on H4 timeframe: Shows a long upper shadow! This is a potential signal of demand exhaustion at current levels.
• Note: Watch for reversal patterns (such as: pin bar, engulfing) at support/resistance areas to confirm movements.
🧠 5. Scenarios and levels to watch: Your action plan!
• 🚀 Bullish scenario (the big leap):
• When? Break the resistance level of $110,000 and hold above it!
• The result? A quick rise to $112,000-$114,000! (New peaks coming?)
• Condition: This should be supported by an increase in trading volume and a stable close of the four-hour candle above resistance.
🐻 Bearish scenario (temporary correction):
• When? Bounce from $110,000 then drop.
• The result? Potential pullback to $107,000 or $105,000.
• More pullback? If the level of $105,000 is broken, a retest of $103,000 is likely.
Summary: $BTC at a crossroads! Be prepared for any movement, and watch these critical levels! $BTC
