

The 4-hour chart of Bitcoin against TetherUS reveals compelling insights for technical traders. The asset has been showing signs of bearish momentum, affecting broader market sentiment. Key levels of support and resistance play a crucial role in guiding strategic decisions.
Recently, there is a noticeable bearish candlestick pattern, suggesting a continuation of the downward trend from the recent high.
Near the end of the chart, there appears to be a potential hammer forming, indicating a possible short-term support zone.
The overall trend is bearish, following a series of lower highs and lower lows.
The MACD line is below the Signal line, confirming the bearish momentum.
Recent attempt at a bullish crossover but was unable to sustain, further supporting the bearish sentiment.
The histogram shows increasing negative values, underscoring the continuation of bearish momentum.
Volume shows spikes during price drops, indicating strong selling pressure and possibly panic selling.
Lack of volume support on upward movements, suggesting weak bullish attempts.
Large volume spikes could suggest institutional selling or significant retail panic, particularly around resistance areas.
Immediate support is around 111,000 USDT where current price is hovering.
Further support may be near 110,000 USDT, which could act as a psychological level.
Key resistance is at the previous breakout level of around 113,000 USDT.
Given the bearish trend and momentum, short positions or sell strategies could be considered.
Conservative traders may wait for a confirmed bullish signal, such as a MACD crossover or a strong reversal pattern, before entering long positions.
Watch for a bounce from the current support level around 111,000 USDT.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.