cReDiToR

4-hour analysis for BTC
General Trend:
* The 4-hour chart shows an uptrend in general. The price continues its upward movement after recovering strongly from the $74,000 level.
Support and Resistance Levels:
* Major Support: The $74,000 level stands out as an important support point.
* Current Resistance: Currently, the $83,900 level is a significant resistance.
* Next Target (In Case of Breaking the Resistance): If this resistance is overcome and remains above, the next target could be $85,000 and above.
* Possible Support Levels (In Case of Pullback): If the resistance cannot be broken, the price may pull back to $81,000 and even $78,500.
* Current Trading Price: The current trading price is around $95,488.
Technical Indicators:

* RSI (Relative Strength Index): The RSI indicator indicates that the upward momentum is strengthening. However, some analyses also indicate that the RSI is approaching the overbought region.

* MACD: Although a bearish crossover is seen in the MACD, there are signals that the selling momentum is weakening.

* Moving Averages: The fact that the price is well above the short-term moving averages (MA5, MA10) can be interpreted as a strong bullish signal, but it may also bring the possibility of a slight pullback in the short term.

Possible Scenarios:

* Continuation of the Rise: If the $83,900 resistance is successfully broken and the price remains above this level, the rise can be expected to continue towards $85,000 and above. Some analyses even show the $88,500 - $90,000 range as the target.
* Slight Correction: Due to the overbought signals in the RSI and the price moving away from the moving averages, a slight correction towards the 86,500 - 85,500 USD range is possible.

Important Notes:

* The 109,500 USD region is indicated as an important liquidity area. Breaking this level may be critical for the continuation of the rise. Otherwise, a double top formation may form in this region.

* The upper band around 97,000 USD may be a reference point for those who want to trade for the all-time high (ATH). A stop loss below this level $BTC #CryptoComeback #TradeOfTheWeek $ETH $SOL