Bitcoin Analysis (Daily Time Frame)
As mentioned in last week’s analysis, Bitcoin spent its trading week in a range, and we must wait to see which direction it will break out from.
- Main Scenario: Given the higher lows and the overall upward trend, it is expected that the price will break out from the top of this range, i.e., the 104064 USD area, and move to the potential range of 117759 USD.
- Alternative Scenario: If it fails to break the 104064 USD top and reverses, the 90506 USD bottom will be the next target for Bitcoin. If this area is also broken, the next target will be the 85000 USD range.
Bitcoin Analysis (4-Hour Time Frame)
Given that Bitcoin is in a range:
- Main Scenario: The higher lows and highs suggest a higher probability of breaking out from the top. If the 104064 USD area is broken, the price can experience new highs.
- Alternative Scenario: If it fails to break the top and breaks the 99185 USD bottom, the price can move to the bottom of the range, i.e., the 90506 USD area.
Bitcoin Analysis (15-Minute Time Frame)
Currently, the price has strongly broken the 102637 USD top and is stabilizing.
- Main Scenario: If it stabilizes above this area, the next target will be the 104064 USD top, which is the top of the trading range.
- Alternative Scenario: If it fails to stabilize, Bitcoin will first see the 101539 USD area, then 100623 USD, and even lower numbers down to the bottom of the trading range.