$BTC
Based on the BTC/USDT chart 4 hours timeframe here is the analysis:
1. Price Trend
BTC is currently in an uptrend as seen from the breakout at the resistance level around 104,760 USDT.
The next increase target could be towards 108,283 USDT which is the Fibonacci extension area -0.27.
2. Fibonacci Retracement Level
The Fibonacci lines show key support/resistance levels:
0 (104,760.4) → The current price is testing a breakout above this level.
0.5 (98.23 USDT) → Key support level if the price corrects.
0.618 (96.69 USDT) → Additional support if selling pressure appears.
1 (91,106 USDT) → Strong support that marks the bottom of the retracement.
3. Support and Resistance
The nearest support is in the area around 104,772 USDT (green line). If the price stays above this level, the uptrend will continue.
The nearest resistance is around 108,283 USDT (Fibonacci target -0.27).
4. RSI Indicator
The RSI is currently at the level of 75.14 (overbought area), indicating that the price is quite high and there is a possibility of a small correction in the near future.
If the RSI remains in the overbought area, this indicates that the bullish momentum is still strong.
5. Moving Average
The EMA (yellow) and SMA (white) lines indicate an uptrend because the price is above both lines.
The EMA functions as dynamic support that can be tested if a pullback occurs.
Conclusion
The bullish trend is still dominant, and the potential for an increase to the level of 108,283 USDT is quite open.
Pay attention to the area of 104,772 USDT as key support. If the price falls below this level, a correction could bring the price to 98,891 USDT.
With the RSI overbought, there is potential for a short-term pullback before continuing the uptrend.
Strategies that can be used:
Buy on pullback in the key support area if a correction occurs.
Sell/Take profit in the resistance area near 108,283 USDT.
