Bitcoin is currently testing the psychological $90,000 level, and the charts are showing a classic "tug-of-war" between bulls and bears. Looking at the 4-hour timeframe, here is what the indicators are telling us:
1. Exponential Moving Averages (EMA):
Price is currently trading right between the 7-day EMA and the 25-day EMA.
We need a solid 4H candle close above the 25-day EMA to confirm that this is just a healthy consolidation.
The 99-day EMA remains far below at the $84k level, which acts as our "ultimate safety net" for the current trend.
2. Relative Strength Index (RSI):
The RSI is sitting at 48, which is neutral. This means $BTC isn't overbought or oversold yet—there is plenty of room for a big move in either direction.
3. My Trade View:
If we hold $89,500, I expect a retest of the $92,400 resistance. However, if the RSI dips below 40, we might see a quick flush to fill the liquidity gaps near $87,000.
What are you seeing on your charts? Are you playing the breakout or waiting for a deeper dip? Let's discuss in the comments! 👇
#Write2Earn #BTC #TechnicalAnalysis #CryptoTrading #bitcoin
