Candlestick Chart Analysis Summary (4H)

Trend and Moving Averages (EMA 7, 25, 99):

The 4-hour chart shows a consolidation after a recent rally. The exponential moving averages (EMA) are in a position that suggests an uptrend in the medium term. However, the current price is close to the EMA 7, which indicates that we could see minor corrections before the trend continues.

Momentum Indicators - RSI and Stochastic RSI:

The RSI is at neutral levels, around 48-50, which indicates a balance between buying and selling pressure.

The Stochastic RSI is in oversold conditions, which may indicate a possible bounce if buyers enter.

MACD:

The MACD is showing signs of a slowdown in bullish momentum, suggesting caution for long positions. If the histogram continues to weaken, it could anticipate a pullback in the coming hours.

Order Book - Key Supports and Resistances

Significant Supports (Possible Rebound Levels):

$65,000: This level features a strong accumulation of buy orders (437.1 BTC), acting as a relevant support. If the price drops to this level, we are likely to see a bounce driven by buying interest.

$67,000: This level also presents some buying interest and may offer additional support in the short term.

Relevant Resistances (Possible Rejection Points):

$69,300: This is the strongest resistance level on the order book, with an accumulation of 705 BTC in sales. In case the price approaches this zone, it might face rejection due to the large amount of pending sales.

$68,800: Another significant resistance with accumulation of sell orders (326.3 BTC), which could act as a ceiling before reaching $69,300.

Short Term Strategy

Bounce Scenario on Supports:

Consider long (buy) entries in case the price declines to the support zones of $65,000 or $67,000 as these are likely to act as rebound points in the short term. It is recommended to monitor volume and price action in these areas.

Rejection Scenario in Resistances:

For short positions (sell), the levels of $68,800 and $69,300 could be optimal zones to consider exits or new short entries if rejection is confirmed. Accumulation of sales at these levels increases the probability of rejection.

Final Conclusion

Bitcoin price is currently in a consolidation phase, oscillating between the levels of $65,000 as support and $69,300 as resistance. This structure suggests that in the next 24 to 72 hours, the market could continue to fluctuate within this range. Paying attention to these key levels and the action of technical indicators will be essential in determining the direction of the next move.

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