Good morning ☕️ Bitcoin Bull Flag on the 1-hour chart, targe | MihaiDaniel on Binance Square

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Good morning ☕️Bitcoin Bull Flag on the 1-hour chart, target $99,500, invalidation below $97,000 🍀

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96,431.99

+0.19%

460

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Based on the updated chart (4-hour timeframe) and the current Bitcoin price of $94,200, Observations from the Chart: 1. Rising Channel: • Bitcoin appears to be trading within a rising channel. The upper and lower trendlines act as dynamic resistance and support. • The price is near the midline of the channel, suggesting equilibrium at this level. 2. Stochastic RSI: • The Stochastic RSI seems to be turning downward from an overbought level. This signals a potential cool-off period or short-term correction. • If it crosses into oversold territory, it could indicate a bounce near support. 3. Volume: • Volume is relatively stable but not significantly increasing. This could indicate a lack of strong momentum on either side. • A sharp increase in volume at this stage would confirm the next major move. 4. MACD and Momentum: • The MACD histogram shows weakening bullish momentum. A crossover on the 4-hour chart would suggest a shift toward bearish sentiment. • Momentum indicators are showing signs of consolidation rather than clear continuation. 5. Support and Resistance: • Immediate support: Around $92,300 (marked by the stop level on the chart). • Resistance: Near $95,500–$96,000, aligning with recent highs and a potential sell zone. Key Scenarios: Scenario 1: Pullback to Support • If Bitcoin breaks below $94,000, the next key support zone lies around $92,300. • A bounce at $92,300 would maintain the integrity of the rising channel, offering a potential long entry. • Bearish signal: A close below the lower trendline of the channel (~$91,800). Scenario 2: Continuation to Resistance • If Bitcoin breaks above $96,000, the next likely target would be $98,000–$100,000 (psychological resistance and channel top). • A clear breakout above $100,000 with high volume would indicate strong bullish momentum. Scenario 3: Range-bound Movement • Consolidation between $92,300 and $96,000 is possible, as the market may digest recent moves and liquidity levels. Current bias The chart suggests a neutral-to-bearish

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In the next period we have two existential issues to watch, dominant bitcoin and altcoin season index, if dominant bitcoin goes down and altcoin index goes up the result makes many people happy Bon appetit at ☕️ boost at 🍀

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As long as bitcoin stay 92.000$ we are safe , right now bitcoin has a big fight on 1 hour time frame with 200 moving average, if we get a strong rejection here we will go back to visit lower values. The Best Buy zone is the support area 91.000$ to 92.000$ if it gets there again

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"Germans are good at many things: engineering, beer, punctuality. But with Bitcoin… they have more to learn. 🇩🇪 In the summer of 2024, the German government sold 50,000 BTC, seized from cases like Movie2K, at an average price of just $57,600 per Bitcoin. Total earnings: $2.88 billion. Today, those BTC are worth $4.63 billion. Difference lost? $1.75 billion. If they had kept the Bitcoin, they had more valuable reserves than the bullion. But hey, who has time to "hoddle" when you want to liquidate everything? 🤷‍♂️"

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Bitcoin is still in correction, on the hourly chart it has a descending channel, if it does not close above $93,700 in the next hours it may fit a new step down towards $89,000. Bullish scenario is to break 94,000 and gain the $95,700 area, where we find out if we start the climb towards $100,000 or push back towards $92,000

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