Bitcoin Professional Analysis Strategy Signals
2024-12-02

In the 4-hour Bitcoin/USDT chart, the price remains within an ascending channel but is currently moving towards critical support levels. The $95,629 resistance level, located near the 0.382 Fibonacci retracement, plays a pivotal role in determining the trend. Breaking above this level could provide a strong bullish signal, while failing to hold above it may increase selling pressure.

Key Support and Resistance Levels
Key Support Level:
The $92,466 level (close to the 0.786 Fibonacci retracement) acts as a major support. If this level is breached, the likelihood of a move toward the lower channel boundary increases.
Key Resistance Level:
The $95,629 level serves as the immediate and primary resistance, determining whether the uptrend will continue or pause.
Alligator Indicator
The Alligator indicator shows convergence of its lines, suggesting a weakening trend and the potential for a sharp price move. A drop below the Alligator lines signals bearish momentum, increasing the likelihood of testing lower support levels.

Summary
If the price holds above $92,466, a rebound and continuation within the ascending channel are likely.
Breaking this support could intensify selling pressure, potentially driving the price lower.