BTC - 4H Key Support Zone & Potential Reversal
2025-02-03
Category: None

BINANCE:BTCUSDT  is currently at the bottom of a descending channel on the 4H timeframe, aligning with a key support level. Given the broader bullish trend on higher timeframes, this zone could provide a strong foundation for a rebound.

📊 Key Observations:

Descending Channel Support: Price is testing the lower boundary of the channel, historically acting as a reversal point.
Bullish Higher Timeframe Context: Despite the short-term downtrend, the macro trend remains bullish, increasing the probability of an upside reaction.
Potential Targets: If support holds, the first target would be the mid-channel zone (~$100K), followed by a move toward the upper boundary around $104K-$106K.
💡 Trading Plan:
1️⃣ Watch for bullish confirmation signals like a bounce with strong volume or bullish divergences.
2️⃣ If support fails, BTC could dip further before a stronger reaction—stay alert!
3️⃣ Higher timeframe traders may see this as a buy-the-dip opportunity in an overall bullish market.

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