BTC/USDT 4H: Bullish Above EMAs — Watch $108k/$100k/$88k SupportTechnical Breakdown
Trend & Price Action: The overall trend remains bullish. The price is currently holding strong above the primary EMA cluster after a significant run-up, indicating buyer control.
Immediate Dynamic Support: The cluster of EMAs around $117,000 - $118,500 serves as the most immediate, dynamic support zone. The price holding above this area is critical for short-term bullish momentum.
RSI: The RSI at 62.15 confirms healthy bullish momentum with room to move higher before reaching overbought conditions.
Key Levels to Watch
Horizontal Support Zones:
These levels are critical as they represent previous areas of resistance and consolidation that have now likely flipped to support.
Support 1: ~$110,000: This level acted as a ceiling in late June and is the first major horizontal support to watch during a pullback.
Support 2: ~$100,372: This was a key consolidation zone in early June.
Support 3: ~$88,765: This is a major structural level, acting as a peak in April and providing support in late May. It represents the most significant of the three drawn support lines.
Resistance:
The upside targets remain the recent highs, identified by the indicator as:
$121,163
$122,223
Potential Scenarios
Bullish Continuation: The price remains above the EMA cluster and pushes through the $122,223 resistance. This would signal a strong continuation of the uptrend.
Corrective Pullback: If the price breaks down through the immediate EMA support, the market will look for a reaction at the key horizontal levels.
A minor correction would find support near $108,000.
A deeper correction would target $100,372, and in a major bearish shift, the crucial support at $88,765 would be the last line of defense for the current market structure.
Conclusion: The short-term outlook is bullish while the price stays above the EMAs. However, the support lines at $108k, $100k, and $88k are the most important levels to watch to gauge the severity of any potential pullback and the overall health of the uptrend.
