

The Bitcoin /TetherUS chart on the 4-hour timeframe shows significant bearish pressure. The recent price action and technical indicators highlight potential zones of support and resistance, crucial for traders monitoring the asset. Market sentiment, along with volume and momentum indicators, suggest careful observation is needed.
A series of bearish candlesticks are observed, indicating downward pressure.
No clear reversal patterns like hammers or dojis are evident in the recent action.
The trend is currently bearish, as seen from the descending price action following the peak around October 5th.
The MACD line is below the Signal line, indicating bearish momentum.
The recent narrowing of the distance between the MACD and Signal lines suggests potential for a bullish crossover if upward price action continues.
No visible divergence is noted between MACD and price in this timeframe, aligning both indicators with the prevailing bearish sentiment.
Noticeable spike in volume accompanies the large bearish candles around October 9th, confirming aggressive selling pressure likely by institutional traders.
High volume during the sell-off supports the downward movement, suggesting strong conviction in the bearish trend.
The aforementioned volume spike indicates possible exhaustion of selling pressure, potentially leading towards stabilization or a reversal.
Key support appears around $110,000, where price might find buying interest.
Resistance is seen near $115,000, just below the previous consolidation before the recent drop.
These levels are crucial for monitoring potential reversals or further decline.
Consider monitoring the $110,000 support for signs of reversal before entering long positions.
Current holders might reassess positions if price breaches $110,000 decisively with heavy volume.
Traders should watch for confirmation signals like bullish MACD crossover or a strong volume-backed reversal candlestick at support.



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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.