### 4-Hour BTC Analysis (MACD Method)
#### Current Overview:
- **Price Action**: BTC is currently around **$68,400** (October 21, 2024, 19:00 UTC), and the MACD on the 4-hour chart is showing bearish momentum.
- **MACD**: The MACD lines have begun to cross over to the downside, with the histogram showing increasing red bars. This indicates that the bullish momentum is slowing down, and we may see further downward pressure in the near term.
#### Scenarios Based on MACD:
1. **Scenario 1: Short-Term Pullback**:
- The bearish crossover on the 4-hour MACD is a typical sign of a potential correction. BTC could see a dip to the support levels around **$63,500**â**$64,000** in the short term. This zone corresponds with the previous swing lows and could act as a key support area.
- The declining volume (October 21, 2024, 19:00 UTC) supports the idea that a pullback may be imminent.
2. **Scenario 2: Brief Rebound Before Further Decline**:
- Before a major correction, BTC could experience a slight rebound toward **$69,500** (October 22, 2024) as traders seek to retest this previous high level. However, unless the bullish momentum strengthens significantly, this move might be short-lived, leading to another downward wave after failing to break the resistance.
3. **MACD Confirmation**:
- In the 4H timeframe (October 21, 2024), if the MACD continues to print red histogram bars and the crossover remains intact, it would confirm the likelihood of further downside moves. Traders should watch for how long the MACD stays in the bearish zone before considering long positions.
#### Key Levels to Watch:
- **Support**: $63,500â$64,000 (October 22â23, 2024).
- **Resistance**: $69,500â$70,000 (October 22, 2024).
- **Next MACD Signal**: A potential bullish crossover in the 4-hour chart, which could signal the end of the pullback and the beginning of the next upward rally.
