This chart shows Bitcoin (BTC/USD) price action on the 4-hour timeframe within a descending channel.
The price has consistently respected the upper and lower bounds of the channel, indicating a prevailing downtrend.
A center area/support zone around $107,000–$109,000 acted as interim support but has recently been broken.
The price has now reached the final support area near $100,000–$101,000, which is currently being tested.
If this final support fails, it could signal a continuation of the bearish trend; otherwise, a bounce from this level might lead to a short-term retracement toward the mid-channel zone.
Overall, the chart highlights a critical support test within a broader bearish structure.
The price has consistently respected the upper and lower bounds of the channel, indicating a prevailing downtrend.
A center area/support zone around $107,000–$109,000 acted as interim support but has recently been broken.
The price has now reached the final support area near $100,000–$101,000, which is currently being tested.
If this final support fails, it could signal a continuation of the bearish trend; otherwise, a bounce from this level might lead to a short-term retracement toward the mid-channel zone.
Overall, the chart highlights a critical support test within a broader bearish structure.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.