BTC/USDT 4H Analysis – Bullish Retracement in Play
2024-12-23
Category: None

Hello traders! Welcome to TriggerShark, where we decode the markets with precision and actionable insights.
Today, we're diving into the 4-hour BTC/USDT chart to analyze a potential bullish retracement.
After a sharp drop from 108,353 to 92,232, BTC is now consolidating and showing signs of a bullish reversal.
It is moving within a tentative upward channel, which is crucial for the next move."
The previous 4-hour hammer candle indicates a bullish reversal is likely.
If BTC breaks above the critical 96,510 level, it confirms the bullish setup, and we target 99,958 as the first level.
The second target aligns with the channel zenith around 102,349."
This bullish setup remains valid above 93,700, which is the risk level to watch closely."
The MACD histogram shows fading bearish momentum, as the bars are turning lighter red. This suggests the sellers are losing steam. A bullish cross in the MACD lines could further validate the setup.
