Bitcoin ($BTC /USDT) 4H Technical Analysis: Bearish Breakdown in Progress?
Key Technical Observations
Trendline Support: An ascending trendline (orange) that has guided the price higher since early April is currently being tested. A decisive break and 4-hour close below this line would confirm a shift in market structure from bullish to bearish.
Supply/Resistance Zone: The red shaded area near 77,500 – 78,300 USDT acts as a major supply zone where sellers have previously stepped in, capping recent upside.
Projected Downside Path: The green shaded area and descending zigzag line represent a projected short-trade setup. It anticipates a rejection from the supply zone, leading to a test of lower support levels.
Target Support Levels:
73,200 USDT: Immediate horizontal support and 4-hour consolidation zone.
70,000 USDT: Major psychological support and demand floor.
62,400 USDT: Deep target zone aligning with broader structural support.
Current Market Context
Momentum: While the long-term trend remains positive, short-term momentum is starting to fade as price struggles to sustain a break above 78,000.
Risks: A breakout and sustained hold above 80,750 USDT would invalidate this bearish outlook and likely trigger a fresh rally toward the 100K range.