🪙 On the 4-hour chart, Bitcoin is forming a situation conducive to growth ⚡️Let's examine it.
⭐️Below the $43,200 level, a head and shoulders reversal pattern is forming. This is a clear indication of upward movement.
The chart shows a very strong bullish pattern, signaling further price growth 🔼.
Key points to note:
1️⃣ A sideways range where the price is moving — 40.5K to 43.5K. Also, local supports within it, such as the MA50-100 and the Ichimoku Cloud on the 4-hour chart.
2️⃣ The growth will continue only after breaking above the upper boundary of the sideways range, above 43K.
❗️Current scenario:
After an increase and another test of the upper boundary of the sideways range, the price locally retraced down for a retest of the MA50-100 and the Ichimoku Cloud, which are currently acting as the main supports. They prevent the price from falling back to 40.5K. There is a bounce, both from them and from the local correction zone of 61.8% Fibonacci. If the buyer demonstrates strength and manages to break 43K, we can confidently expect growth, first to 44K and then to 45K.
Bitcoin Dominance: 53.58%;
Fear and Greed Index: 74 (Greed);
Altcoin Season Index: 55;
Market Capitalization: $1.568 trillion.
