$BTC
โ ๏ธ๐ BTC at a critical crossroads on the 4H frame
The current price of BTC is moving near the middle average of the Bollinger Bands,
with a clear weakness in momentum after being rejected from the upper areas.
๐น Current price: 90,150
๐น Main support: 89,200
๐น Next support: 88,150
๐น Nearest resistance: 90,850
๐น Upper resistance: 92,900
๐ Positive scenario:
Staying above 89,200 may allow for a gradual rebound
towards 90,850 then 92,900 provided that momentum improves.
๐ Negative scenario:
Breaking 89,200 with a 4H close may open the way
for a retest of 88,150 near the lower Bollinger limit.
๐ Indicator readings:
- RSI is still below 50 โ momentum is weak
- MACD is negative โ the trend has not confirmed its reversal yet
- Price is below the MB of Bollinger โ selling pressure is present
๐ฏ Conclusion:
The current area is not a rush area,
and smart trading is with confirmation of a clear breakout or breakdown.
๐ฌ In your opinion:
Will the support at 89,200 hold or will we see a deeper test? And why?
