After a few days of correction, the 4 Hour chart shows us a $BTC wounded but defending its last line of vital support.

Structure Analysis:

  • ❌ Lost Trend: We have lost the key moving averages. The EMA 20 (Yellow Line) at $88,250 now acts as a ceiling. Until we recover it, the bears are in charge.

  • 🛡️ The VWAP Support: The good news is that the price ($87,639) has managed to rise above the VWAP (White Line) at $87,485. This suggests that there is buying interest at these low levels.

  • 📉 RSI in Bounce Zone: With the RSI at 43.41, we are not oversold, but in a 'discount' zone for a potential technical bounce.

The Plan:
The zone of $87,000 - $87,500 must hold at all costs.

  • Bull Scenario: Recover the yellow line ($88.2k) to target $89.5k.

  • Bear Scenario: If we lose the VWAP ($87.4k), the next support is at the lows of $80.6k.

👇 Do you think $87k is the floor, or will we see a visit to $80k this week?

Bitcoin ($87.6k): Struggling to avoid falling into the abyss !!

#bitcoin #MarketCorrection #TechnicalAnalysis #CryptoUpdate #BinanceSquare

⚠️ Disclaimer: This content is for educational and informational purposes only. It does not constitute financial advice. Do your own research (DYOR).