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Let’s dive into today’s Bitcoin analysis. Earlier today, the highly anticipated U.S. inflation data was released — let’s see how it has impacted Bitcoin.
⌛️ 4-Hour Timeframe
Bitcoin continued its correction yesterday, and remained in a corrective phase until today’s U.S. inflation news hit the market.
✔️ The news came out in Bitcoin’s favor, and we are now seeing a bullish engulfing candle on the 4-hour chart with solid volume. If this candle can close with a slightly larger body, it would be a strong signal for a potential continuation of the uptrend.
📊 As long as the price holds above the 116,829 level, I consider Bitcoin’s trend in LWC to be bullish. On the MWC, we are still ranging, and on the HWC, Bitcoin remains bullish.
🔔 Currently, there’s a resistance level at 120,041, which was previously faked out from above. We need to wait for the next tests to identify the precise resistance line.
✨ If this resistance at 120,041 breaks, a long position could be considered. The main trigger for confirming an MWC uptrend would be a breakout above 122,733. However, I recommend aiming to enter on the 120,041 breakout instead, as waiting for 122,733 might be too late — the move would likely be sharp, with no ideal entry candle.
🔽 On the other hand, if the current candle turns into a wick and closes red, Bitcoin could enter a deeper correction toward the 116,829 and 115,364 zones.
💥 If RSI closes below 50, that would give a momentum-based confirmation of bearish conditions, increasing the likelihood of a corrective scenario as selling momentum builds in the market.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
Let’s dive into today’s Bitcoin analysis. Earlier today, the highly anticipated U.S. inflation data was released — let’s see how it has impacted Bitcoin.
⌛️ 4-Hour Timeframe
Bitcoin continued its correction yesterday, and remained in a corrective phase until today’s U.S. inflation news hit the market.
✔️ The news came out in Bitcoin’s favor, and we are now seeing a bullish engulfing candle on the 4-hour chart with solid volume. If this candle can close with a slightly larger body, it would be a strong signal for a potential continuation of the uptrend.
📊 As long as the price holds above the 116,829 level, I consider Bitcoin’s trend in LWC to be bullish. On the MWC, we are still ranging, and on the HWC, Bitcoin remains bullish.
🔔 Currently, there’s a resistance level at 120,041, which was previously faked out from above. We need to wait for the next tests to identify the precise resistance line.
✨ If this resistance at 120,041 breaks, a long position could be considered. The main trigger for confirming an MWC uptrend would be a breakout above 122,733. However, I recommend aiming to enter on the 120,041 breakout instead, as waiting for 122,733 might be too late — the move would likely be sharp, with no ideal entry candle.
🔽 On the other hand, if the current candle turns into a wick and closes red, Bitcoin could enter a deeper correction toward the 116,829 and 115,364 zones.
💥 If RSI closes below 50, that would give a momentum-based confirmation of bearish conditions, increasing the likelihood of a corrective scenario as selling momentum builds in the market.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
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.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Related publications
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.