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Let’s dive into the Bitcoin analysis. Today, Bitcoin is sitting right on a very important support level. Let’s see what could happen in the market.
⏳ 4-Hour Timeframe
Today, I removed the old range we had on Bitcoin and added a support zone around 112000.
✔️ The reason for removing the old range was that the price had broken through it several times, both from above and below, so it could no longer be considered a Maker Buyer or Maker Seller zone.
🔔 The new zone I drew is a very strong support, and right now the price is fluctuating inside it.
✨ The 114790 trigger is a good entry signal for a long position, confirming that the price has been supported by the Maker Buyer zone. The important resistance levels above are at 116829 and 119096.
💥 If the 112233 level breaks, a sharp bearish leg could occur. But in my view, it is unlikely to happen today. If it does, it will probably come after Powell’s speech tomorrow.
🧩 Breaking the 30 level on RSI is still the momentum trigger for Bitcoin. If it enters the oversold zone, Bitcoin’s momentum will turn bearish, and the RSI could move down toward 24.60.
🔍 For today and tomorrow, I prefer not to open any new positions and wait until Powell’s speech at the Jackson Hole event to see when the market chooses its direction.
❌ 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 the Bitcoin analysis. Today, Bitcoin is sitting right on a very important support level. Let’s see what could happen in the market.
⏳ 4-Hour Timeframe
Today, I removed the old range we had on Bitcoin and added a support zone around 112000.
✔️ The reason for removing the old range was that the price had broken through it several times, both from above and below, so it could no longer be considered a Maker Buyer or Maker Seller zone.
🔔 The new zone I drew is a very strong support, and right now the price is fluctuating inside it.
✨ The 114790 trigger is a good entry signal for a long position, confirming that the price has been supported by the Maker Buyer zone. The important resistance levels above are at 116829 and 119096.
💥 If the 112233 level breaks, a sharp bearish leg could occur. But in my view, it is unlikely to happen today. If it does, it will probably come after Powell’s speech tomorrow.
🧩 Breaking the 30 level on RSI is still the momentum trigger for Bitcoin. If it enters the oversold zone, Bitcoin’s momentum will turn bearish, and the RSI could move down toward 24.60.
🔍 For today and tomorrow, I prefer not to open any new positions and wait until Powell’s speech at the Jackson Hole event to see when the market chooses its direction.
❌ 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.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
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🤵 Business Contact: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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: [email protected]
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: [email protected]
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.