BTC/USDT Update
2024-10-24

BTC/USDT Technical Analysis Update 
 Date:  10/24/2024
 Author:  Crypto Rado ( Rhino aka Bear ) 
 Timeframe:  1H & 4H

 🔹 Overview:🔹
 
Bitcoin has successfully hit the $65.4K target, as expected, and has since bounced with a bullish divergence on the 1H timeframe, suggesting a potential short-term momentum reversal.

 🔹 Key Levels:🔹 

 
 Resistance Zone:  $68K–$68.5K (Aligns with the 0.615–0.786 Fibonacci retracement on 1H)
 Support Zone:  $65.4K (Breakdown level)
 Point of Control (POC):  $67.3K (Volume-driven key level)
 
 🔹 Scenarios: 🔹

 Bearish Case:  A confirmed breakdown below $65.4K could drive the price towards $63.7K and $62.6K, with larger downside targets at  GETTEX:48K  to $40K if bearish momentum continues.

 Bullish Case:  If Bitcoin breaks above $69.8K, the next major upside targets are between $100K and $110K, signaling a continuation of the bullish trend.

 For now, the market structure appears corrective rather than fully bearish, and I will wait for clearer price action before making further trading decisions. 

 Disclaimer: 
⚠️ This is not financial advice. All information is for educational purposes only. Conduct your own research and understand the risks before making any trades.

