BTC is showing indecision between support and resistance levels. A breakdown below key support or closure above resistance could provide clarity on the next short-term direction. Downside risks remain for further weakness while upside appears limited for now.
Contents
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, and daily charts.
4 Hour Timeframe
- BTC is currently trading between the 0.618 and 0.786 Fibonacci retracement levels, indicating a consolidation in a short-term downtrend.
- The nearest support levels are Support Zone 1 at 44073 and Support Zone 2 at 41144. A break below these levels could see further weakness.
- On the upside, resistance lies at the 0.382 Fibonacci level of 45218 and the Demand Zone high of 44341. A break above these levels would signal a potential trend reversal.
- The Rejection Block from 45500-44862 acted as strong resistance, initiating the current down move.
Support and Resistance Levels
Support Zone 1 | 44073.32 |
Support Zone 2 | 41144.87 |
Fibonacci Retracement Levels
0.382 | 45218.24 |
0.50 | 44354.15 |
0.618 | 43503.65 |
0.786 | 42288.92 |
0.882 | 41600.55 |
Demand Zone
Demand Number | High | Low |
Demand Zone 1 | 44341.80 | 43175.00 |
Rejection Block
Rejection Number | High | Low |
Rejection Block | 45500.00 | 44862.11 |
1 Hour Timeframe
- BTC is trading between the 0.618 and 0.786 Fibonacci retracement levels similar to the 4HR, indicating short-term consolidation.
- Support lies at Support Zone 1 of 44228 and Support Zone 2 of 43490. A break below would increase downside pressure.
- Upside resistance is the 0.382 Fibonacci level of 46140 and the upper range of Demand Zone 1 at 44128. A break above these levels could trigger a bullish continuation.
- The Fair Value Gap from 44350-44128 provided bullish support earlier, now acting as resistance for any upside moves.
Support and Resistance Levels
Support Zone 1 | 44228.00 |
Support Zone 2 | 43490.01 |
Fibonacci Retracement Levels
0.382 | 46140.02 |
0.50 | 45584.08 |
0.618 | 45009.62 |
0.786 | 44208.02 |
0.882 | 43746.32 |
Demand Zone
Demand Number | High | Low |
Demand Zone 1 | 44128.19 | 43641.73 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG 1 | 44350.00 | 44128.19 |