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On August 5th, Bitcoin dropped below the 50,000 mark, invalidating a previously established channel. Currently, Bitcoin is testing the 57,000 level. If this test is successful, Bitcoin could rise to the 61,000 level, where it may face a minor retest before continuing its upward trajectory. However, the heavy order concentration and liquidations between the 60,000 and 63,000 levels could present significant challenges. Optimistic Scenario (Green Arrow): After navigating the fluctuations above the order block, Bitcoin successfully tests the blue line, confirming support, and continues its upward trend. Pessimistic Scenario (Red Arrow): Bitcoin faces substantial resistance within the 60,000 to 63,000 range due to high order activity, leading to a reversal and a potential decline back to the 45,000 level.

Bitcoin is currently testing its support level, and the market is watching closely. As long as we stay above the green and yellow lines, we shouldn't see any significant downside pressure. Bullish Scenario: If BTC can maintain its position above the green trend line and subsequently break out of the descending channel, we could witness a substantial rally. Historically, BTC has made two attempts to break out of this channel, but each time it was rejected and retraced. This time, a breakout could signal a strong bullish momentum. However, it's crucial not to get overly optimistic just yet. A breakout from the channel doesn't guarantee a straight upward trajectory. Instead, we'll be looking at the white resistance line above the channel. Should BTC manage to close above this white line, it would be a strong indicator of an impending upward surge. This would likely attract more buyers and could trigger a significant price increase. Bearish Scenario: On the flip side, if Bitcoin breaks below the green support line and subsequently the yellow line, we could be in for a bearish ride. This would likely push BTC down to the 63,440 level, with potential for further declines. Traders should be cautious and watch for these key levels. A breakdown below these lines could signal a broader market correction, and it's essential to have stop-loss orders in place to mitigate potential losses. If you have questions please use comment section Thank you for reading

In the 4-hour BONKUSDT chart, there is a clear potential for a Head and Shoulders pattern. BONKUSDT has bounced off the support line at 0.000026083 and is showing an upward movement. If it retraces from the 0.000029495 levels, it could lead to the formation of a Head and Shoulders pattern. In this scenario, a decline towards the area within the purple rectangle could be anticipated. In the event of a more severe decline, it is possible that the price could fall to the turquoise rectangle, which is outlined with a purple border. Alternative Scenario: If BONKUSDT breaks through the 0.000029945 levels with significant volume, an increase up to the orange rectangle could be expected, and subsequently, it could move towards the red box. If the price rises to the range of 0.000032385 - 0.000033910, the Head and Shoulders pattern will be invalidated. Attention: Given the high dominance of BTC, caution is advised, and BTCUSD should be closely monitored.

In the 4-hour chart, an emerging but not yet fully confirmed Head and Shoulders pattern is distinctly visible. This technical pattern is often used by traders to predict potential reversals in the market. For the OKX chart, a critical level to watch is 63,480. If the price drops below this level, it could signify a bearish trend, potentially bringing us down to the 55,000 levels. Left Shoulder: Formed at the 66,000 level Head: Reached the peak at approximately 68500 Right Shoulder: Currently awaiting formation The price has touched all the key support points, indicating a potential upward move to form the right shoulder. BTC is currently rising towards this level, suggesting a critical juncture in the pattern development. This movement is crucial because it will determine whether the pattern completes or if another scenario plays out. Alternative Scenario: If Bitcoin manages to break the right shoulder with high volume on the given chart, it could invalidate the Head and Shoulders pattern. A high-volume breakout above the right shoulder would be a strong bullish signal, potentially resulting in a significant upward movement. In this case, we could see BTC rise to the 72,000 level. This analysis suggests that traders should closely monitor the following: 63,480 Support Level: A drop below this level could indicate a bearish trend towards 55,000. Formation of the Right Shoulder: Watch for the completion of the right shoulder around the current levels. Volume Analysis: High trading volume accompanying a breakout above the right shoulder would suggest a strong bullish trend, potentially leading to the 72,000 level. Given these factors, the current market conditions present a pivotal moment for BTC. Traders should be prepared for both scenarios, adjusting their strategies accordingly to manage risks and capitalize on potential opportunities. In summary, the Head and Shoulders pattern in the 4-hour chart provides a critical framework for anticipating BTC's next moves. Whether BTC confirms the pattern by breaking below 63,480 or invalidates it with a high-volume surge above the right shoulder will be key in determining the market direction in the near term.Comment: In an alternative scenario, I previously highlighted that a substantial or voluminous candle could significantly alter the probability of an Overbought-Oversold (OBO) condition. By analyzing the latest data on the 4-hour chart, we can observe this exact situation unfolding. The formation of a large candle has disrupted the expected pattern, indicating a shift in market sentiment. Currently, the overall trend appears to be moving upwards. This upward momentum could potentially continue if supported by further technical indicators and market conditions.

If Bitcoin breaks the resistance level in the graph, we can see an increase.

Bitcoin The last 24 hours of 26,500 dollars in a slight decrease, which has dragged the rest of the market with it. In addition, this may mean that we may be about to see a higher volume movement. But we don't know what will happen in the future, thank you