chart shows Bitcoin (BTC/USD) on the 4-hour timeframe within a descending channel pattern.
Key observations:
Channel Trend: BTC is trading inside a downward-sloping channel, indicating a medium-term bearish structure.
Current Price: Around $110,292.
Center Area / Support Zone: Highlighted in pink (~$107,000–$109,000) — acting as a short-term support or potential bounce region.
Final Support Area: Marked in green (~$98,000–$100,000) — a critical demand zone where strong buying interest may appear if price breaks below the current support.
Summary:
Bitcoin remains in a downward channel, consolidating near mid-support. A rebound from the pink zone could target the channel’s midline or upper boundary, while a break below $107,000 might lead to a test of the final support area near $100,000.
Key observations:
Channel Trend: BTC is trading inside a downward-sloping channel, indicating a medium-term bearish structure.
Current Price: Around $110,292.
Center Area / Support Zone: Highlighted in pink (~$107,000–$109,000) — acting as a short-term support or potential bounce region.
Final Support Area: Marked in green (~$98,000–$100,000) — a critical demand zone where strong buying interest may appear if price breaks below the current support.
Summary:
Bitcoin remains in a downward channel, consolidating near mid-support. A rebound from the pink zone could target the channel’s midline or upper boundary, while a break below $107,000 might lead to a test of the final support area near $100,000.
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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.