BTC/USD – 4-Hour Time Frame Analysis
Bitcoin (BTC) is currently trading within a well-defined downward parallel channel on the 4-hour chart. The price action continues to respect both the resistance and support zones of this channel.
At present, BTC is approaching the upper boundary of the channel, which serves as a key resistance level. If the resistance holds, a rejection is expected from this zone, potentially leading to a significant downward move.
Traders should monitor this area closely for confirmation signals before entering short positions.
Bitcoin (BTC) is currently trading within a well-defined downward parallel channel on the 4-hour chart. The price action continues to respect both the resistance and support zones of this channel.
At present, BTC is approaching the upper boundary of the channel, which serves as a key resistance level. If the resistance holds, a rejection is expected from this zone, potentially leading to a significant downward move.
Traders should monitor this area closely for confirmation signals before entering short positions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my telegram channel for free signals and analysis
t.me/AmeliaGoldTrader123
t.me/AmeliaGoldTrader123
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.