Bitcoin appears to be consolidating within the major weekly support zone after recent weakness. Pullbacks to the daily demand area or 4-hour 0.5 level could present low-risk entries, with targets around weekly resistance. Upside appears limited by nearby supply zones on shorter timeframes.
bitcoin is currently trading within a major support zone between 45,400-32260. There is significant resistance above at 45,400 and then 59,998. The price is currently towards the lower half of this support zone, suggesting potential for a bounce. Looking at the demand zones, there is good support in the 30,379-29,889 zone.
Support and Resistance Levels
Support Zone 1
32259.90
Support Zone 2
24309.38
Support Zone 3
17622.00
Resistance Zone 1
45400.00
Resistance Zone 2
59998.80
Fibonacci Retracement Levels
0.382
37149.89
0.50
34128.15
0.618
32468.85
0.69
31037.23
0.786
29140.98
0.882
27237.39
Supply Zone
Zone Number
High
Low
Supply Zone 1
53256.64
59444.00
Supply Zone 2
62278.00
69000.00
Demand Zone
Zone Number
High
Low
Demand Zone 1
30379.99
29889.14
Demand Zone 2
27987.93
26538.66
Fair Value Gaps / Imbalances
Gap Number
High
Low
Bullish FVG / Imbalance Zone 1
38414.00
39972.26
Bullish FVG / Imbalance Zone 2
34025.00
30379.99
Bullish FVG / Imbalance Zone 3
29883.60
27987.93
Bearish FVG / Imbalance Zone 1
53256.64
52088.00
Bearish FVG / Imbalance Zone 2
62278.00
59444.00
Daily Timeframe
The near-term support level is at 41,300. Resistance is at 44,073. Fibonacci retracement levels indicate the 0.382 and 0.5 levels near 40,916 and 39,754 respectively could provide support. The demand zone from 37,500-38,146 overlaps with the weekly demand zone and represents a good risk/reward area for a long entry if price pulls back.
Support and Resistance Levels
Support Zone #1
41300.00
Resistance Zone #1
44073.32
Fibonacci Retracement Levels
0.382
40916.42
0.50
39754.45
0.618
38570.68
0.69
37873.08
0.786
36933.53
0.882
35951.27
Demand Zone
Zone Number
High
Low
Demand Zone #1
37500.00
38145.85
Fair Value Gaps / Imbalances
Gap Number
High
Low
Bullish FVG #1
38145.85
39972.26
4 Hour Timeframe
In the 4-hour chart, we can see the price is currently trading between the 0.382 and 0.5 retracement levels at 42,248-42,543. There is a supply zone overhead from 43,304-43,787 which could cap any up move.
Fibonacci Retracement Levels
0.382
42248.65
0.50
42543.88
0.618
42839.12
0.786
43259.26
0.882
43497.72
Supply Zone
Zone Number
High
Low
Supply Zone #1
43304.27
43787.57
1 Hour Timeframe
supports are at 42,408 and then 41,402 below. Resistance bands are at 43,490 and then 44,228. The 0.382 and 0.5 levels correspond closely to the 4-hour retracements. There are also supply zones slightly higher which could reject further upside for the short-term.