BTC 4-Hour Technical Analysis

This wave of the market can be divided into several clear phases:

The first drop to 81 was followed by a rebound to 93, forming a solid support level.

The second phase saw a retracement from 93 down to 86, then another push up to 94—this broke the previous high, confirming the upward momentum.

The third phase gets interesting. Starting from 87, there was an attempt to push toward the 94-95 range, seemingly aiming for a breakout, but it ultimately failed, resulting in a false breakout, and then a sharp drop to 84. This indicates significant selling pressure above.

Currently, the key point is that the price may test a critical level again. As long as it does not break below this red heart level (81), the short-term outlook remains bullish.

If the 81 level is broken, then on the daily chart, focus should shift to the 78.5 and 76 levels, which could form stronger support.