4H Chart Analysis – Structural + Price Action Insight
Bitcoin is currently trading inside a descending minor channel (orange), which is part of a larger complex correction pattern, potentially a contracting running flat or diametric in NeoWave context. The sequence A to G may suggest that the market completed its G-leg after bouncing off the lower support.
Now, BTC has reached the upper boundary of the orange channel, which aligns with a strong resistance zone around 116.8K–117K.
⸻
✅ Primary Scenario (Bearish Bias):
As long as BTC fails to break and sustain above 116,800 – 117,000, the current move can be interpreted as a pullback within the correction, with high probability of price heading back toward the green liquidity/support zone near 110,800 – 111,400.
This could be a continuation of the broader corrective structure, or even the beginning of a new downward cycle.
⸻
❗ Alternative Scenario:
If bulls manage to break above 117,000 with strong momentum and confirmation (e.g., breakout + retest), the structure may shift bullish with short-term targets near 118,500 – 120,000.
⸻
🎯 Key Takeaways:
• Watch price action closely at the current resistance zone.
• Bearish confirmation (e.g., bearish engulfing, rejection wicks, or supply absorption signs) is required before considering short entries.
• High R:R setups emerge near channel extremes with clear invalidation levels.
Bitcoin is currently trading inside a descending minor channel (orange), which is part of a larger complex correction pattern, potentially a contracting running flat or diametric in NeoWave context. The sequence A to G may suggest that the market completed its G-leg after bouncing off the lower support.
Now, BTC has reached the upper boundary of the orange channel, which aligns with a strong resistance zone around 116.8K–117K.
⸻
✅ Primary Scenario (Bearish Bias):
As long as BTC fails to break and sustain above 116,800 – 117,000, the current move can be interpreted as a pullback within the correction, with high probability of price heading back toward the green liquidity/support zone near 110,800 – 111,400.
This could be a continuation of the broader corrective structure, or even the beginning of a new downward cycle.
⸻
❗ Alternative Scenario:
If bulls manage to break above 117,000 with strong momentum and confirmation (e.g., breakout + retest), the structure may shift bullish with short-term targets near 118,500 – 120,000.
⸻
🎯 Key Takeaways:
• Watch price action closely at the current resistance zone.
• Bearish confirmation (e.g., bearish engulfing, rejection wicks, or supply absorption signs) is required before considering short entries.
• High R:R setups emerge near channel extremes with clear invalidation levels.
📊 CryptoPilot – Advanced Technical Analysis for BTC & Altcoins
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🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
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.
📊 CryptoPilot – Advanced Technical Analysis for BTC & Altcoins
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
🔎 Smart Money • Price Action • NeoWave • Multi-Timeframe Context
📩 Contact: @CryptoPilot_1 (Telegram)
📥 Telegram Chanell : @CryptoPilot_Trading
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.