Bitcoin: Approaching Key Levels

15 сент.

Bitcoin has been hovering near the $59,800 level, showing mixed signals across both the 1H and 4H charts. With the broader market awaiting a potential breakout towards the end of September, technicals reflect a market in consolidation mode, but with growing signals of a possible shift in momentum.

1H Chart Breakdown: Weak Momentum Continues

On the 1-hour chart, Bitcoin is struggling to maintain any upward momentum, hovering below the Bollinger Band Basis ($60,101). The RSI at 41.71 and the oversold Stochastic (%K at 12.62) show signs of a potential bounce, though weak MACD signals and a low ADX at 13.13 indicate limited trend strength.

Resistance: $60,356 (Upper BB)
Support: $59,846 (Lower BB)
MACD: Bearish momentum

4H Chart Breakdown: Testing Key Resistance

On the 4-hour chart, Bitcoin faces a stronger challenge near the upper Bollinger Band ($61,348), with the RSI at 58.42 indicating that momentum is still neutral to slightly bullish. The Stochastic is signaling overbought conditions with %K at 72.63, suggesting a potential pullback, but the MACD remains bearish with a histogram reading of -70.04. The ADX at 20.91 is still weak, signaling that Bitcoin is lacking a definitive trend direction.

Support: $57,463 (Lower BB)
Resistance: $61,348 (Upper BB)
MACD: Bearish, showing weakening momentum
OBV: 3.021M, showing some accumulation but not enough to signal a breakout

Support and Resistance Levels (Across Timeframes)

Immediate Resistance (1H & 4H): $60,356 - $61,348 (Upper BB levels, key psychological resistance)
Immediate Support: $59,846 - $57,463 (Lower BB)

Actionable Strategy: Range-Bound Trading with Weak Momentum

Bullish Scenario:
If Bitcoin can break above the $61,348 resistance (4H Upper BB), it may push toward $62,000 and beyond. A strong volume surge would confirm this breakout.

Bearish Scenario:
Failure to break resistance could result in a pullback to $57,463 (4H support). If Bitcoin drops below this, watch for a further retracement to $54,000, which is still possible based on historical patterns.

Action Point:
Traders should monitor the $61,348 resistance closely for any breakout confirmation. In the event of a pullback, consider entering long positions near $57,463 if support holds.