BTCUSD UPDATE 31- 5 - 25This chart shows a technical analysis of the BTC/USDT (Bitcoin/US Dollar Tether) pair on the 4-hour timeframe using Binance data. Here's a detailed breakdown of the key elements:
Current Price:
BTC is trading at $103,439.50, down 0.53% on the 4-hour chart.
Highlighted Zones (Yellow Boxes):
These are likely support and resistance zones:
1. Resistance zone near $112,000 – This is the recent high and potential sell zone.
2. Support zone around $101,000–102,000 – This could act as the first level of buying interest.
3. Stronger support zone between $97,000–99,000 – Key demand area if the price drops further.
4. Mid-range zone around $104,000–105,000 – Previous consolidation area which could act as a minor resistance/support flip.
Blue Zigzag Line:
This illustrates a potential head and shoulders pattern, followed by a projected price movement:
A possible bounce from the $101,000 area back toward $105,000.
If that fails, a bearish continuation toward the lower support zone near $97,000.
Implications:
Short-term Bearish Bias: The overall pattern suggests potential further downside unless BTC holds the current support area.
Reversal Potential: A successful bounce at current levels could lead to a relief rally.
Key Levels to Watch:
Break below ~$101,000 could open the way to ~$97,000.
Break above ~$105,000–106,000 may indicate a shift back to bullish momentum.
Would you like a deeper technical analysis or recommendations based on this setup (e.g., risk/reward, entry/exit ideas)?
