#BITCOIN ⟶POTENTIAL BEARISH MOVE!!
2024-09-30

Bitcoin Analysis Summary
4-Hour Time Frame ⏰📊

Based on the bearish divergence and top formation on the midline of the bullish channel in the 4-hour time frame, there is a chance of a drop in #Bitcoin 📉⚠️.

However, as mentioned in the previous analysis, the continuation of the drop depends on the break of the bullish channel in the 4-hour time frame. Additionally, the break of static support at 64,879.59 and the 4-hour candle closing below 64,190.00 should be added to the conditions for the drop 🛑📉.

If the drop continues:
Bitcoin could hit the following targets:
🎯 Target 1: 63,261.17
🎯 Target 2: 60,920.34
🎯 Target 3: 57,877.90

Condition for growth:
If the drop conditions are not met, the growth conditions should be analyzed in lower time frames, which we will cover next 📊📈.
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Bitcoin Analysis Summary
1-Hour Time Frame ⏰
In continuation of the 4-hour time frame analysis 📊:

As long as Bitcoin remains below the midline of the bearish double channel and the static resistance at 64,879.59, the bearish trend is likely to continue 📉⚠️.

On the other hand, if there’s a rise, this same area (midline of the double channel and resistance at 64,879.59) could stop the growth and bring Bitcoin back into a bearish phase 🔄📉.

Stop-loss for the bearish scenario:
A shift to bullish will occur with a break of resistance at 64,879.59 and the midline of the bearish double channel in the 1-hour time frame 📈.

If the stop-loss for the bearish scenario is triggered:
Bitcoin could reach the following 3 targets:
🎯 64,879.59 - 67,220.42
🎯 68,838.84
🎯 Upper boundary of the expanding triangle (from previous analyses)

