๐ [BTCUSDT 4H Analysis โ WEAK RECOVERY SIGNAL BUT WORTH NOTING]
$BTC is currently experiencing a small recovery from the $106,200 range, but is this a technical bounce or the beginning of a larger reversal?
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On the 4H timeframe, BTC price is moving around the $110,000 mark โ just touching the MA20 line (pink) after a series of strong bearish candles.
Some notable technical signals:
โข RSI(6) at 53.5 and RSI(24) around 47, indicating a slight recovery in buying pressure but not strong enough to confirm a reversal.
โข MACD just crossed above the signal line โ a weak โbullish crossโ signal, if volume continues to increase it could push the price to retest the $112,400 โ $113,500 range.
โข The Bollinger Band is slightly widening, signaling that volatility is about to increase.
โข Near support: $106,900 โ $107,000
โข Important resistance: $112,400 โ $114,600
Overview:
Currently, BTC is in a technical recovery phase, and the medium-term trend remains slightly bearish. If the 4H candle closes above $112,500, the likelihood of returning to a short-term uptrend will be higher.
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๐ Do you think this is just a bounce in a downtrend, or a signal for a real reversal?
๐ If you are waiting for a trade, do you lean towards LONG or SHORT in this $110k area?
Drop โค๏ธ and comment so I can update the next chart when BTC shows clearer breakout signals!
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