#BTC $BTC
The 4-hour level has already broken below the previous upward trend channel and is relatively weak while testing the moving average support downwards.
On December 20, influenced by news, it briefly broke below the EMA200 but recovered. However, the subsequent support failed and broke again.
The 1-hour level is now in a bearish arrangement phase, with multiple tests over the past 3 days failing to produce an effective rebound.
Future two scenarios:
A. After testing the previous low again to form a double bottom, it starts to gradually test the upper moving average resistance, attempting to return to the key support pressure at the 200 position.
B. Continuing to fluctuate narrowly near the current low, after the holiday liquidity decreases, breaks below this position, with a possible price test around 86000; if it cannot recover, there may be a short-term trend change.
The 4-hour level has already broken below the one-sided support line last week, while also testing the boundary line between long and short.
Multiple moving averages are starting to turn, testing the previous secondary support area, with high points gradually decreasing under the pressure of moving averages.
The 1-hour level, after the last breakdown, has increased its slope and opened a bearish arrangement, converging in a triangle under the pressure of moving averages.
Future two scenarios:
A. Gradually standing above the upper pressure moving average and returning above the support area to begin reverting to a bullish direction.
B. Still maintaining below the EMA200 moving average with high points gradually decreasing, eventually breaking below the secondary support area while continuing to seek lower support.
