Hi and Namaskar, Traders! Welcome to the #LuckySevenTrader , I’m your brother, Lucky Seven, and today I’ll be doing an in-depth analysis on #Bitcoin❗ . If you enjoy this content and want to stay updated with more market insights, don’t forget to hit the like, share, and follow buttons so you don’t miss out on future updates.

Disclaimer:

The information provided in this #article is for educational and informational purposes only. It is not financial or trading advice. The opinions expressed are solely my own and do not reflect the opinions of any third parties. Trading in financial markets involves significant risk and can result in the loss of your invested capital. Always conduct your own research, seek advice from a licensed financial advisor, and make decisions based on your own analysis. Past performance is not indicative of future results. Viewer discretion is advised, and trade responsibly.

Now, let’s dive right into the chart. On my screen, we’ve got the Bitcoin/USDT 4-hour timeframe chart, and there’s a lot going on.

Current Market Setup

Looking at the history on this 4-hour chart, we’ve seen Bitcoin steadily rising from a Major Demand Zone around $52,550, consistently making higher highs and higher lows over a 28-day period. This price action has been contained within an ascending parallel channel, pushing Bitcoin upwards toward a Major Supply Zone at $66,500.

However, after reaching that supply zone, we noticed the price consolidated, holding its position for a few days. Recently, though, Bitcoin got rejected from that supply zone, broke out of the parallel channel, and is now moving below the lower boundary of the channel.

What’s the Next Move for #bitcoin☀️ ?

Now, the big question: what happens next? Well, the picture suggests that the price, after breaking out of the channel, may retest the lower boundary of the channel. If this happens, we could see Bitcoin bounce back up to the $64,000 - $64,500 range. If the momentum is strong enough, it might even break through the $66,500 supply zone in a bullish scenario. One key factor here is that Bitcoin is currently finding support from the 0.236 Fibonacci level, which can act as a launchpad for a bullish move.

Bearish Scenario

But, let’s not ignore the other possibility. If the price fails to stay above the $63,326 level, we might see a deeper correction. If it breaks down from there, Bitcoin could drop to $61,200, $59,510, and $57,883, which are key support levels based on the 0.38, 0.5, and 0.618 Fibonacci levels.

In this case, the price could find support at one of these levels, potentially staging a recovery. If Bitcoin bounces from these support levels, we could still see a bullish reversal up to the $66,500 supply zone. But if the price doesn't show any bullish reaction from these supports, we could see a continued bearish movement, possibly down to the 4-hour timeframe Major Demand Zone around $52,550.

What’s the Predict?

At the end of the day, nobody can predict the market with certainty—whether it’s going to be bullish or bearish. All we can do is follow technical analysis and prepare for possible scenarios. As traders, it’s essential to always have a plan and understand the key levels you’re watching. Whether the market decides to move up or down, having a solid strategy is what sets successful traders apart.

So, with that said, stay cautious and remember: this analysis is just a tool to help guide your trades. Be sure to do your own research and come up with the best plan for your trading style. Thanks for tuning in, and don’t forget to like, share, and follow for more updates. Until next time, trade safe!" #Follow_Like_Comment $BTC $ETH $BNB