BTC/USDT 4HOUR CHART UPDATE !!

1 ago

Bitcoin 4-Hour Chart Update
Current Price: $64,026.02 (as per the chart)
Resistance Levels: $65,718.00, $73,449.96, and $74,000.00
Support Zone: Around $62,000.00, highlighted in the brown box

The chart shows a decline, reaching the support zone around $62,000.00.
The green arrow suggests a possible bullish reversal from the support zone, targeting higher resistance levels.

The green line likely represents a moving average that could provide additional support.
the price drops below the support zone around $62,000.00, it might signal further declines.
Monitor for declines towards the next significant support level around $52,408.76.

A rebound from the support zone could present a long opportunity.
Targets: Initial target at $65,718.00, with further potential towards $73,449.96 and $74,000.00.

For short positions, place a stop loss above the recent high at $65,718.00. For long positions, a stop loss below the support zone at around $62,000.00.

For short positions, consider taking profit around the support zone. For long positions, gradually take profit at the identified resistance
The analysis is based on technical indicators shown in the chart.
External Factors: Always consider broader market sentiment and news that could impact Bitcoin's price.

Monitor these levels closely and adjust your strategy based on real-time price movements and market conditions.

Remember: This is not financial advice. Stay tuned to us for further updates and analysis. Thank you!