#bitcoin☀️ $BTC $SOL #bitcoin☀️

Bitcoin 4 hour Analysis for new comers (02 September 2024, 05:42 AM pak time)

1. Support and Resistance:

- Immediate Support: Around 56,500

- Immediate Resistance: Around 58,500

2. RSI (Relative Strength Index):

- RSI abhi 40 ke aas paas hai, jo bearish zone mein hai. Yeh show kar raha hai ke market mein abhi strength nahi hai aur buyers kamzor hain.

3. MACD (Moving Average Convergence Divergence):

- MACD ne abhi cross kiya hai neeche se lekin momentum weak hai, jo signal de raha hai ke market mein bullish reversal ki abhi tak confirmation nahi hai.

4. Volume:

- Volume kaafi low hai, iska matlab hai market mein zyada participation nahi hai, jo kisi bhi direction mein strong movement ki kami ko show karta hai.

5. Latest Fundamental News:

- Market mein overall sentiments thode negative hain due to recent SEC actions aur economic uncertainty. U.S. job data report bhi weak rahi jo market ke liye bearish signal hai.

Inference:

Market abhi consolidation phase mein hai, aur RSI aur MACD dono weak signals de rahe hain. Agar support break hota hai to downside aur bhi ho sakti hai. Fundamental news bhi positive nahi hain jo overall bearish scenario ko support karti hain.