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Mastering Crypto

09/29 03:54

BTC Technical Analysis

The 4-Hour Chart :-

Looking at the 4-hour chart, the price has recently broken out of the large falling wedge pattern. This is considered a bullish reversal signal from a classical price action point of view. However, the market has failed to break above the $27,500 zone and has been decisively rejected.

The first probable scenario is for BTC to test the mentioned $27,500 resistance level again and break it to the upside, which would pave the way for a rally to the key $30K area. On the contrary, a drop below the $25K support area is also conceivable and would result in a bearish continuation towards the $20K support level. 1695959767408.png

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