BTC/USDT 4-hour chart analysis. 
2024-12-20
Category: None

BTC/USDT trades within an ascending parallel channel, respecting the upper and lower trendlines.

Current price: $99,789.68, retracing back towards a crucial support area.
The highlighted green area is around $98,000-$100,000, which acts as the channel’s demand zone and mid-range level.

200 MA (green line): Located near $97,830, providing dynamic support.
Immediate resistance near the upper channel trendline (~$110,000).
Psychological resistance at $105,000, a crucial round-number level.
If BTC maintains the $98,000-$100,000 support area, it is set to bounce towards:

Short-term target: $105,000.
Mid-term target: $110,000, aligned with the upper channel boundary.
If BTC breaks below $98,000, further declines to test $95,000 (lower trend line) are possible.

A breakdown below the channel will invalidate the bullish trend.

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a financial advisor before making investment decisions.

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@Peter_CSAdmin