TradeCityPro | Bitcoin Daily Analysis #176👋 Welcome to TradeCity Pro!
Let’s go for a different kind of Bitcoin analysis today. I’ve used a new color theme on the chart—let me know in the comments whether you like this theme or prefer the previous one.
⌛️ 4-Hour Timeframe
In the 4-hour timeframe, Bitcoin had formed a descending channel, moving lower with a bearish structure of lower highs and lower lows toward the 107,000 support zone.
✔️ After reacting to this support, price climbed toward the channel’s top. Following one false breakout, it managed to break the channel on the next attempt and moved toward the channel trigger at 113,222.
💥 This move came with rising volume, which boosted bullish momentum and increased the likelihood of breaking 113,222.
✨ With the breakout of 113,222, Bitcoin’s main upward wave began, and price is now heading toward the next resistance at 116,960, which it is already approaching.
🧩 Over the last few candles, volume has dropped significantly, mainly because it’s the weekend. If volume starts to pick up with the new week, the probability of breaking 116,960 will increase.
🔑 A breakout above 116,960 could serve as the next long trigger, while Bitcoin’s key major resistance remains at 121,188.
❌ Disclaimer ❌
Trading futures is highly risky and dangerous. If you're not an expert, these triggers may not be suitable for you. You should first learn risk and capital management. You can also use the educational content from this channel.
Finally, these triggers reflect my personal opinions on price action, and the market may move completely against this analysis. So, do your own research before opening any position.
