TradeCityPro | Bitcoin Daily Analysis #186👋 Welcome to TradeCity Pro!
Let’s move on to Bitcoin analysis. Bitcoin is still pushing upward, so let’s review the market conditions together.
⌛️ 4-Hour Timeframe
Yesterday, Bitcoin reached the next resistance level at 117,812.
🔍 On the lower timeframes, there was a small rejection from this zone, but on the 4-hour chart, price managed to hold above it and is now moving toward the 120,036 level.
🔔 Given the strong buying power and the heavy volume in the market, I believe the probability of continuation to the upside is very high, and price could push to even higher zones.
💥However, the RSI oscillator is currently deep in the overbought zone, sitting around 80. That’s quite an extreme level, and a correction in RSI is almost certain soon.
✔️ This doesn’t necessarily mean the uptrend is over. Price can still continue upward while RSI corrects.
⚡️ As long as RSI remains above 70 and stays in overbought territory, I expect the bullish leg to continue. Once RSI stabilizes below 70, price may enter a corrective phase.
⭐ In that case, we can look for long triggers during the price correction to catch the next bullish wave.
📊 If Bitcoin keeps rallying, the next zone to watch as a potential trigger will be 120,036. A reaction at this level could give us a new long setup.
💫 That said, on the first touch of 120,036, I personally won’t be opening a position—even if it breaks. I’ll wait for more structure to form before making an entry.
❌ 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.
