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Let’s move on to Bitcoin analysis. Today the weekly candle closes, and from tomorrow the market can start moving again.
⌛️ 4-Hour Timeframe
On the 4-hour chart, Bitcoin has started a downward move from the 117,570 high, dropping in two bearish legs down to the 108,750 zone.
✨ After reaching this area, volume began to decrease — both because the market is ranging and because it’s the weekend.
✔️ Yesterday, in my analysis, I highlighted a range box on the 1-hour chart. This same box is still visible now on the 1-hour timeframe, spanning 108,750 to 109,890.
🧩 Today’s New York session is very important, since this session often drives weekend market moves. So watch the market carefully,our triggers might get activated.
🔑 If strong volume enters today and 108,750 breaks, we can look to open a short position. However, keep in mind there’s an important support area just below this level that could prompt a reaction and halt further decline.
⭐ For a long position, the first trigger we have is a breakout of 109,890. But note that the short-term trend is still bearish, so it’s better to wait for bullish confirmation first. A clean break of 109,890, followed by a higher high and higher low above this level, would be a solid confirmation for a potential upward move.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you’re not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
