bitcoin 4hr chart for BINANCE:BTCUSDT by Shavyfxhub
BTCUSDT Analysis – Shavyfxhub Market Structure Strategy (4H Chart) Market Structure Breakdown Overall Structure: Bitcoin is in a long-term ascending channel (green trendlines), showing higher lows — this keeps the higher-timeframe structure bullish. There is also a clear horizontal resistance around 65,720, which has rejected price multiple times (marked as SS). Level Type,Price Zone,Importance Major Supply Roof,"65,720",Critical resistance – break & close above this is key Immediate …
BTCUSDT Analysis – Shavyfxhub Market Structure Strategy (4H Chart)Market Structure BreakdownOverall Structure:Bitcoin is in a long-term ascending channel (green trendlines), showing higher lows — this keeps the higher-timeframe structure bullish. There is also a clear horizontal resistance around 65,720, which has rejected price multiple times (marked as SS). Level Type,Price Zone,ImportanceMajor Supply Roof,"65,720",Critical resistance – break & close above this is keyImmediate Resistance,"64,800 – 65,200",Current rejection zoneDemand Floor,"60,000 – 60,500",Strong support zoneDeeper Support,"58,000 – 59,000",If major demand floor failsCurrent Price Action:Price is consolidating just below the 65,720 supply roof. The ascending green trendline is still intact, supporting the bullish structure. Multiple failed attempts to break above 65,720 show sellers are defending this level strongly. Shavyfxhub Strategy OutlookBullish Scenario (Preferred higher-timeframe bias):Clean break and close above 65,720. Target 1: 67,800Target 2: 74,124 (as marked on your chart)Bearish Scenario:Failure to break 65,720 + break below the ascending green trendline. Next major support sits at 60,000 – 60,500. Verdict:Bitcoin is at a make-or-break level. The structure remains bullish as long as the green ascending trendline and the 60k demand floor hold. However, the 65,720 resistance is the gatekeeper. A decisive break above it opens the door for a strong continuation higher. DisclaimerThe 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 theTerms of Use.