Technical analysis of Bitcoin (BTC) on the 4-hour time frame
#BTC Bitcoin (BTC) is experiencing significant price fluctuations within a wide range, currently trading at $86,658, down 0.90% on the BITSTAMP platform. Based on technical analysis, a short-term bearish pattern is emerging that could lead to a retest of support levels before a strong rebound upwards.
Artistic vision
The price is moving within a short-term descending channel, facing strong resistance at $87,800-$88,000, which has led to several price rejections.
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As I mentioned in the recommendation, BTC is touching the first target of 86,000 and now we are waiting for the second target of 90,000🤑🤑🤑 Enjoy the show 🤫 #BTC #Binance
Bitcoin (BTC) Price Analysis Against the US Dollar
As of March 23, 2025, the price of Bitcoin (BTC) is trading against the US dollar (USD) around $84,313. The first cryptocurrency has seen a rise of 0.19% over the past 24 hours, with a market cap of approximately $1.67 trillion. Technically, the current indicators indicate mixed signals: Relative Strength Index (RSI): stands at 50.351, indicating a neutral condition.
🔹 Support and Resistance Levels: ✅ First Support: $83,000 ✅ Second Support: $78,000 🚀 First Resistance: $86,000 🚀 Second Resistance: $90,000
🔹 Recommendations: 🔹 📥 Buy: When testing support at $83,000,354,654,388,12 with a stop loss at $78,000. 🔹 📤 Sell: When approaching resistance at $86,000,354,654,388,12 or $90,000,354,654,388,12 with gradual profit-taking.
⚠ Important Tips: ✔ Use strict risk management 📊 ✔ Follow the news 📢 for its impact on price ✔ The market is volatile, do not trade without a strategy 🎯
As I mentioned earlier in the post, Ethereum (ETH) has reached the first target I set! ✅📈 Do you expect the rise to continue or a correction soon? Share your opinions with me in the comments! 👇🔥