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07/08 12:01
Bitcoin Technical Outlook: Key Support Holds
Bitcoin Technical Outlook: Key Support Holds
On the 4-hour chart, Bitcoin is bouncing off the ascending trendline support, with the 50-SMA at $108,146 providing dynamic support. The $108,941 resistance remains the ceiling to break. The recent price structure features small-bodied candles and long wicks, indicating indecision rather than rejection.
RSI sits neutral at 49.60, and no bearish divergence is present, suggesting momentum is steady but still searching for conviction.
A breakout above $108,941 could drive BTC toward $109,727 and $110,561. Losing the trendline and 50-SMA could drag it to $107,323 or even $106,422.
Trade Setup:
- Buy Entry: Above $108,950 on strong bullish candle
- Target 1: $109,727
- Target 2: $110,561
- Stop-Loss: Below $108,100
For now, Bitcoin’s technical structure remains intact. As long as the trendline holds and price stays above the 50-SMA, the bulls maintain short-term control.
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