Technical analysis by Mohammad_Mirdehghan about Symbol BTC on 12/30/2024
Mohammad_Mirdehghan
The chart highlights critical support and resistance levels along with possible price scenarios for Bitcoin (BTC/USD) on the 4-hour timeframe. The combination of technical patterns and momentum indicators offers a roadmap for potential future movements.Key Levels:Resistance at $95,600:The $95,600 level serves as a key resistance point. A breakout above this level could signal a bullish continuation toward $100,740.93, aligning with the upper boundary of the channel.Support Zone at $91,400–$90,400:This area is a strong support zone, highlighted in blue, and represents a potential bounce point if the price continues to decline. Failure to hold this level could push Bitcoin further downward.Lower Support Levels:$82,265.90 and $76,125.14 are critical lower support levels if bearish momentum intensifies.Scenarios:Bullish Scenario: If Bitcoin rebounds from the $91,400–$90,400 support zone and breaks above $95,600, we could see a rally toward the $100,740.93 target.Bearish Scenario: A breakdown below the $91,400–$90,400 zone could lead to a decline toward $82,265.90 or even $76,125.14, driven by increased selling pressure.Indicator Insights:DT Oscillator: Currently in the oversold zone, suggesting a potential short-term bounce. However, confirmation is needed from price action and resistance levels.Conclusion: Bitcoin is at a pivotal point with significant support and resistance levels clearly defined. Traders should monitor price reactions closely around the $91,400–$90,400 zone and watch for a breakout or breakdown for directional cues.Feel free to share your thoughts in the comments, and don’t forget to follow me for more detailed analyses!⚠ Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research before making trading decisions.As expected, Bitcoin was supported at the $91,400-$90,400 level and, after breaking through the $95,600 resistance, is continuing its growth towards the $100,740 level.
