๐ BTC Quick Update โ 4H Chart (1st August)
Bitcoin is currently hovering near a crucial support zone between $115,200โ$115,000, which also aligns perfectly with the 200 EMA on the 4H chart โ acting as a dynamic support!
๐ป Structure: A clear descending triangle is visible, with lower highs compressing into horizontal support. A break below this level with volume could trigger a sharper drop toward $112,000โ$110,000.
๐ However, bulls are defending the 200 EMA, and if this level holds, we could see a bounce back toward $117,300โ$117,700.
๐ Scenarios to Watch:
๐ฝ Breakdown below $114,900 + retest = short opportunity
๐ผ Strong bounce from 200 EMA = scalp long chance
๐ง Volume confirmation is key
๐ Trend Bias: Bearish below \$114,900
๐ Bounce potential if 200 EMA holds
