BTCUSDT / BREAKOUT THE DESCENDING CHANNEL - 4H
2024-09-22

BTCUSDT / 4H TIME FRAME 

 HELLO TRADERS 

1. August Price Movements:
   - Early August: The price declined by 29.54%.
   - Mid-August: The price increased by 32.55%.

2. September Price Movements:
   - Early September: The price declined by 18.96%.
   - Mid-September: The price increased by 14.37%.

 Technical Analysis: 

1. Current Market Condition: 
   The asset is under bullish pressure following a breakout from a channel , As long as the price remains above 60.767, the bullish momentum is expected to continue.

2. Upward Condition:
   - Target 1: If the price trades above 60.767, it's expected to rise to 65.015.
   - Target 2: If the price stabilizes above 65.015, the next target is 69.573.

3. Downward Condition:
   - If the price falls below 60.767, it suggests a potential decline:
   - Target 1: A decline to 56.154.
   - Target 2: If it breaks below 56.154, further decline is expected to 52.679.