Bitcoin

BTC complete Analysis ........Whats next .... bear or Bull

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BTC/USD 4H Chart Analysis
Key Observations:
Descending Channel:

Price is moving within a downward-sloping channel with lower highs (LH) and lower lows (LL), indicating a bearish structure.
Major Support & Resistance:

Support: Around $89,000, marked as "major support."
Resistance: Around $105,000, marked as "major resistance."
BTC is currently near support, which could act as a potential bounce zone.
Double Top Formation:

A double top pattern was formed around $105,000, confirming strong resistance.
This led to a rejection and continuation of the downtrend.
Fake Breakout:

A previous attempt to break above resistance failed, causing a sell-off.
Potential Scenarios:

Bullish Case: If BTC holds the support zone and breaks the resistance line, it could move towards the 100K+ zone.
Bearish Case: If BTC fails to hold support, it could retest $89,000 as mentioned on the chart.
RSI Divergence:

RSI is showing a slight bullish divergence, meaning price is making lower lows while RSI is making higher lows.
This could indicate a potential reversal or temporary bounce.
Conclusion & Strategy:
Watch the 89K-90K support level closely.
A breakout above the resistance line may confirm a bullish reversal.
If price loses support, the next downside target could be 85K-87K.
RSI divergence suggests a possible short-term bounce.
🚨 Trading Plan:

Long Entry: If BTC reclaims the resistance line with volume confirmation.
Short Entry: If BTC loses support and breaks below 89K with strong selling pressure.

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