FX.co ★ Pi-Network | #Bitcoin chart analysis

BTCUSD (H4) Technical Analysis Summary Current Price & Structure: BTCUSD is currently trading at 70,369.33, having recently touched a high near 71,453.69 before pulling back. The chart shows consolidation between 70,905.11 (recent resistance) and 67,067.40 (support), with the overall trend remaining bullish on higher timeframes. Price is above the key moving average (MA10 likely near 70,000–70,500), which acts as dynamic support. Indicator Analysis: · RSI (14): At 50.33, indicating neutral momentum, neither overbought nor oversold. This allows room for movement in either direction. · MACD (12,26,9): At -539.787 with signal line at -1091.215, showing bearish divergence on the H4, suggesting near-term consolidation or minor pullback before potential bullish continuation. Key Levels: · Resistance: 70,905.11, 71,453.69, then 73,290.85 · Support: 67,067.40, 60,843.95, and MA10 zone (~70,000) Fundamental Context: Bitcoin remains supported by institutional adoption, ETF inflows, and macro uncertainty. However, short-term volatility may arise from regulatory news, macroeconomic data, or shifts in risk sentiment. The upcoming Fed policy outlook and Bitcoin’s halving narrative continue to underpin longer-term bullish sentiment.

Trade Setup (H4): · Bullish Scenario: A sustained break above 70,905.11 with RSI rising above 60 could target 73,290.85. Entry near 70,000–70,500 with stop-loss below 67,067.40. · Bearish Scenario: Failure to hold MA10 support and break below 67,067.40 could see a test of 60,843.95. Short entry on break below 67,000 with stop above 70,900. Summary: BTCUSD on H4 is in a consolidation phase after a strong rally. The MA10 is critical for maintaining bullish structure. While MACD signals short-term bearish momentum, the broader trend remains upward. Traders should watch for a decisive break above 70,905 for continuation, or a drop below 67,067 for deeper correction. Risk management is essential given elevated volatility.