BTC Technical Analysis update Based on 4h Chart
BTC is sitting at a pretty crucial level around $56k. This zone could really trying the next big move, yes! Breakdown or Bounce.
As predicted in our last update, I mentioned that "If BTC drops below 58.3k, especially if it breaks $57.6k, we could be heading towards a deeper correction. The next significant support is around $54k, which is the final retest area for this bull run. If it doesn't hold, we might see BTC heading down to the $52.2k zone or even lower to $44k." and it has followed this expectation and perfectly hit $57.6k even touch $56.2k.
✍️ What’s Next?
Alright, BTC is currently dying out around $56.3k after breaking through the psychological level of $57k. Here’s what could happen next:
Scenario 1: Bounce from $54k (OB Zone)
If BTC holds this $54k level, we might see a bounce up to $57k-$58k. This area is important because it’s the last strong support before we could see a rally. Market psychology plays a big role here $54k is a psychological level where buyers might feel it’s a good entry point, thinking it’s the “bottom,” which could lead to a strong push upwards.
If you're considering entering here, keep your stop loss tight, just below $52,250. That way, if we do break down, you're not caught in a bigger drop.
Scenario 2: Breakdown Below $54k
On the flip side, if BTC breaks below $52,250, it’s likely to trigger more selling, pushing us down to around $44k. This level is crucial because breaking it could shake market confidence and lead to a panic sell-off, as traders might start thinking the bullish trend is over.
it's important to manage emotions. If you’re already in a position, have your stops in place and be prepared to exit if the market moves against you. The fear of missing out (FOMO) might make people hesitate, but sticking to your plan is key.
⚡ High buying volume on a bounce would indicate strong interest at $54k, potentially confirming the bottom. On the other hand, heavy selling on a breakdown could confirm
