$BTC 🚨🚨🚨 Detailed Bitcoin Analysis (BTCUSDT) - 4 Hour Time Frame ⏳⏰🔴🔴🔴🚨 #bitcoin #BTC
BTC ⏳4-HOUR Chart Analysis🚨🚨🚨
Support and Resistance Overview:
• Current Price: $65,127.8
• Recent Trends:
• Trend on 50 Bars: Downtrend with a -21°angle
• Trend on 100 Bars: Downtrend with a -23 angle
• Trend on 150 Bars: Downtrend with an -8° angle
• Trend on 200 Bars: Sideways with a -3° angle
Key Patterns Identified:
• Double Top formation
• Black Swan Pattern at point D
• AB=CD Pattern at point D
Technical Indicators:
• Downtrend Levels:
• $71,683.2 with a 10.08% distance and 2° angle
• $66,701.3 with a 2.43% distance and 29° angle
• Uptrend Level: $63,783.6 with a 2.05% distance and 6° angle
• Trend Line (TL) Strength:
• $71,683.2: 3.3 (Strong)
• $66,701.3: 3.1 (Strong)
• $63,783.6: 6.6 (Strong)
Analysis:
Bitcoin’s 4-hour chart shows a dominant downtrend, underscored by bearish patterns like Double Top and Black Swan. The recent downtrend levels at $71,683.2 and $66,701.3 reflect significant resistance. Meanwhile, a minor uptrend level at $63,783.6 offers some support but is relatively weaker.
Conclusion:
BTC is under pressure with strong resistance levels, indicating a challenging environment for upward movement. Traders should be cautious, watching for further pattern confirmations and potential support at lower levels. #Bitcoin❗ #bitcoin☀️ #Alert🔴 $BTC