Hi everyone

Analysis of $BTC 4h chart

Observations:

1. Current Price Level: The price is at 93,221.1, significantly below the EMA (9), EMA (50), and EMA (200) levels, indicating a strong bearish trend.

2. Support and Resistance:

• The support level appears near 90,200.

• Resistance is around 100,136.1 and the recent high of 108,366.8.

3. RSI (14): The RSI is at 34.4, which is near the oversold zone (30), suggesting that selling pressure is high, but a reversal might be near if it dips further into oversold territory.

4. MACD: Both the DIF and DEA lines are below zero, with a negative histogram, reinforcing bearish momentum.

Prediction:

• If the 93,221.1 support level fails, the price could drop to test the next significant support at 90,200 or even lower.

• If the price consolidates above 93,221.1, we might see an attempt to recover toward EMA levels or the resistance at 100,136.1.

Recommendations:

1. If You’re Holding:

• Monitor the 90,200 support closely. Consider placing a stop-loss just below it.

• Wait for confirmation of a reversal before adding to your position.

2. If You’re Looking to Buy:

• Look for signs of RSI entering the oversold region (<30) or a bullish crossover in the MACD as potential entry signals.

• Enter only if the price holds above 93,221 or after it tests 90,200 successfully.

3. If You’re Looking to Sell:

• Use the current breakdown as an exit opportunity, especially if 93,221 turns into resistance.

Follow for more if you like a deeper explanation of any indicator or strategy?

Happy Trading folks✌🏻