BITCOIN / UNDER UPWARD PRESSURE / 4H
2024-11-05

BITCOIN / 4H TIME FRAME 

 HELLO TRADERS 

 Demand Zone (Support): 67.435 - 66.457
 • Above this Zone: As long as the price remains above this range, it suggests a higher likelihood of a bullish trend, with potential to move upward.
 • Potential Target on Stability Above: If prices stabilize above this demand zone, it may attract buyers, leading to an upward movement toward the supply zone.

 Supply Zone (Resistance): 71.484 - 72.916
 • Upside Potential: Should the price continue to rise after holding above the demand zone, it may reach this supply zone. This area could act as resistance, where selling pressure might increase.
 
 Downside Risk and Confirmation of Downtrend:
 • Break Below Demand Zone (66.457): If prices fall below the demand zone, it could signal the start of a decline, with a potential target around 65.320.
 • Break Below 65.320: A drop below this level would further confirm a downtrend, suggesting stronger bearish sentiment.

 Trend Confirmation:
 • Uptrend: Stabilizing and maintaining price levels above the demand zone supports a bullish scenario.
 • Downtrend: Breaking below 65.320 would confirm a downtrend, indicating a bearish 