BITCOIN BTCUSDT 4HR CHART for HTX:BTCUSDT by Shavyfxhub
Shavyfxhub BTCUSD 4H chart: price is sitting in a decision zone around 64. 8k–65. 2k, with a bullish recovery structure still alive as long as that area holds. But momentum is also weakening under the descending red trendline, so the chart is at a key inflection point. The market had a strong drop first, then formed a wide recovery range. Price has been making higher lows from the July bottom, which supports a bullish continuation idea. At the same time, it is still battling a downward …
Shavyfxhub BTCUSD 4H chart: price is sitting in a decision zone around 64. 8k–65. 2k, with a bullish recovery structure still alive as long as that area holds. But momentum is also weakening under the descending red trendline, so the chart is at a key inflection point. The market had a strong drop first, then formed a wide recovery range. Price has been making higher lows from the July bottom, which supports a bullish continuation idea. At the same time, it is still battling a downward resistance line and a nearby supply zone around 66. 1k–67. 3k. Key levelsSupport: 63. 55k, then 62. 5k, then 61. 0k. Major support zone: 58. 5k–59. 0k if the current structure fails. Immediate resistance: 65. 2k–66. 1k. Major resistance: 67. 31k, then the upper trendline near 70k+. Bias from the chartBullish case: if price holds above 64. 8k and breaks 66. 1k cleanly, the next target is 67. 3k, then possibly 69k–71k. Bearish case: if price loses 63. 55k, sellers may push it toward 61k, then 59k. The red projection on the chart seems to favor a possible rejection from the current area before any bigger upside continuation. Trading ideathe safest read is: wait for confirmation. Buy only on a clear breakout and retest above 66. 1k. Sell only if price breaks and closes below 63. 55k. #BITCOIN #BTCUSDTDisclaimerThe 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.