BTC Current Situation (4-hour chart)

Trend:

The market appears to be in an uptrend, forming higher highs and higher lows since the end of November.The price has shown a consistent bullish momentum over the past few weeks.

Support and Resistance Levels:

Support:Strong support is visible around $96,000-$98,000, which acted as a consolidation area during the last retracement.Further support can be found near $92,000, where previous volume spikes and reversals occurred.Resistance:The immediate resistance is near $104,000, where the price failed to break convincingly in the past few attempts.A breakout above this level could push BTC toward $106,000-$108,000.

Price Action:

The candlestick patterns show consolidation near the highs, indicating potential accumulation.Volume has decreased slightly, which may suggest caution among traders or indecision.

Bullish Scenario:

A breakout above $104,000 could trigger a rally toward $110,000-$115,000.Sustained buying pressure and macroeconomic support (e.g., institutional interest) could drive BTC to retest higher levels.

Bearish Scenario:

If BTC fails to break above $104,000, a pullback toward $98,000 or even $92,000 is possible.Breaking below $92,000 would indicate a potential trend reversal to the downside, targeting $85,000-$86,000.

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