With a bang 🔥
Before reaching 110,000, it corrected back to 108,700 and then returned to test the resistance zone at 110,000. Staying above it for 4 hours means testing the 112,000$ area 👏
🔍 Analysis of Bitcoin behavior on the 4-hour frame:
Bitcoin has recently succeeded in breaking the downward trend shown by the blue sloping line, and this break is considered a positive technical signal for a potential change in the overall trend towards upward.
📌 But let’s analyze logically:
🔹 The first resistance (number 1 in the image): It was successfully broken at the level of 108,800, and it was considered a very important barrier, with a strong candle close occurring at that level, which is evidence of buyer strength.
🔹 The second resistance (number 2): At the level of 110,000, this is a very critical area from which the price has bounced back multiple times before. Therefore, we expect it to be a strong selling area for speculators, and a correction is likely to occur before any attempt to break through.
🔹 The third resistance (number 3): Around 112,000 – represents an extension of higher resistances, and breaking it means entering a stronger upward wave.
---
📉 Expected scenario:
It is likely that Bitcoin will return to test the previous break area (at number 1 = 108,800), to confirm it as new support ✅
If the price holds and bounces from this area, it will be strong evidence of readiness to break the second resistance (110K) and move towards 112K.
⚠️ However, if it fails to stay above area 1, it will return to the fluctuation range and may head towards the gray support area again (105K).
💙 Follow 💙
@ALKING_TRADER
-----
$BTC
$ETH
#تحليل_البيتكوين
#البيتكوين
#العملات_البديلة
#StrategyBTCPurchase
#مصر
Yemen
Bitcoin has recently succeeded in breaking the downward trend shown by the blue sloping line, and this break is considered a positive technical signal for a potential change in the overall trend towards upward.
📌 But let’s analyze logically:
🔹 The first resistance (number 1 in the image): It was successfully broken at the level of 108,800, and it was considered a very important barrier, with a strong candle close occurring at that level, which is evidence of buyer strength.
🔹 The second resistance (number 2): At the level of 110,000, this is a very critical area from which the price has bounced back multiple times before. Therefore, we expect it to be a strong selling area for speculators, and a correction is likely to occur before any attempt to break through.
🔹 The third resistance (number 3): Around 112,000 – represents an extension of higher resistances, and breaking it means entering a stronger upward wave.
---
📉 Expected scenario:
It is likely that Bitcoin will return to test the previous break area (at number 1 = 108,800), to confirm it as new support ✅
If the price holds and bounces from this area, it will be strong evidence of readiness to break the second resistance (110K) and move towards 112K.
⚠️ However, if it fails to stay above area 1, it will return to the fluctuation range and may head towards the gray support area again (105K).
💙 Follow 💙
@ALKING_TRADER
-----
$BTC
$ETH
#تحليل_البيتكوين
#البيتكوين
#العملات_البديلة
#StrategyBTCPurchase
#مصر
Yemen
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
109,597.46
+0.64%
ETH
2,591.12
+0.79%