Hey everyone

Analysis of $BTC 4H chart.

Observations:

1. EMA Indicators:

• EMA(9) (yellow line) and EMA(50) (pink line) are close but not showing strong bullish or bearish crossover at the moment.

• EMA(200) (purple line) is below the current price, indicating an overall uptrend in the long term.

2. Resistance and Support:

• Resistance: There’s a resistance zone marked near 99,950.

• Support: The green support zone is marked near 95,000 and another major one near 82,500.

3. Trendline:

• The orange ascending trendline indicates an upward trend was broken recently. This signals weakness or a possible retracement in the uptrend.

4. Volume:

• The volume bar at the top-right corner shows decreased activity compared to the recent peaks. Lower volume often indicates indecision in the market.

5. Price Action:

• The price is hovering near a support zone but below the EMA(50), which suggests short-term bearish pressure.

Forecast:

• If the price breaks below the 95,000 support zone with strong selling volume, it may head toward the next support at 82,500.

• If the price holds this level and reclaims the EMA(50), it could retest the resistance zone near 99,950.

What Should You Do?

• For a Bullish Scenario:

• Wait for the price to hold above the 95,000 support and for a bullish candle to close above the EMA(50).

• Place stop-loss below the 95,000 support zone in case of a bearish breakdown.

• For a Bearish Scenario:

• If the price breaks the 95,000 support zone with strong volume, consider shorting or waiting for the price to reach the next support zone around 82,500.

• Caution: Avoid trading in the current indecisive phase. Wait for a breakout or breakdown to confirm direction.

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