$BTC Bitcoin Analysis: Market Update đ
Letâs take a quick look at how Bitcoin has been performing and what to expect next.
âł 4-Hour Timeframe:
Bitcoin is still consolidating within its major range between $84,500 and $93,789. There hasn't been a significant breakout yet, and the price remains stuck inside this box.
đĄ Current Market Sentiment:
Right now, a smaller range has formed between $86,555 and $90,018. Trading volume is currently low, causing the price to fluctuate sideways.
đ Bullish Outlook:
If Bitcoin holds support at $86,555 and forms a "Higher Low," there is a strong chance it will break above $90,018.
A successful breakout of $90,018 with good volume could push the price toward $93,789 and $96,476.
Confirmation: A move above $93,789 is required to confirm a full bullish trend.
đ Bearish Outlook:
Keep an eye on $86,855 and $84,500 for potential short setups.
If the price stabilizes below $84,500, it will confirm a bearish shift in the market.
â ïž Pro Tip:
Because the market currently lacks strong momentum, I am taking quick profits on Long positions. Itâs better to be cautious until a clear trend emerges.