📉 BTC/USD H4 Chart Analysis

The BTC/USD H4 chart shows that Bitcoin is currently in an upward channel, with recent movements indicating a bullish trend. Here’s a closer look at the key levels and trend indicators:

Key Resistance Levels:

$77,140 – BTC is approaching this upper boundary of the channel, and a breakout above it could indicate further bullish momentum.

$75,882 – This level represents the current local resistance. A sustained move above could suggest a continuation of the uptrend.

$74,735 – Another key resistance that BTC has previously tested. Remaining above this level reinforces the bullish trend.

Key Support Levels:

$67,594 – This is a critical support level marked in green. If BTC faces a downturn, this level might provide significant support to halt a deeper retracement.

Trend Lines:

BTC is moving within a rising channel, as indicated by the parallel orange trend lines. The price action remains within this channel, confirming a strong uptrend.

The recent intersection with the upper trend line suggests that BTC may either break out or retest lower support levels within the channel.

Summary:

Bullish Case: Breaking above $77,140 could confirm a stronger uptrend, with potential for additional gains.

Bearish Case: If BTC fails to break through current resistance, it could retrace to test support levels around $67,594.

Risk Management: With a reported drawdown of 30.44%, applying caution and considering stop-loss adjustments may help manage risk in case of a sudden reversal.

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