"Bitcoin Analysis: Potential Move Towards Point G"
Based on the current price action on the 4-hour chart, Bitcoin is showing signs of a bearish continuation towards the G zone (around the support area highlighted in purple). This move aligns with the rejection from the F level and the overall structure of lower highs.
I anticipate a potential drop to the G zone due to the selling pressure and lack of significant bullish momentum. However, once the price reaches this key support level, we may witness a bounce or consolidation before a potential upward move.
Key Levels to Watch:
Support (G Zone): [$92,500 - $90,000] Resistance (F Level): [$105,500] This scenario will be invalidated if Bitcoin closes above the F level, indicating renewed bullish strength. Until then, my bias remains bearish towards G, followed by a possible recovery.
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