See also
On the weekly chart, there is a clear divergence between the price and the Marlin oscillator. This divergence has significant potential; if it does not lead to a full reversal, it could at least result in a correction lasting 2 to 3 weeks.
On the daily chart, the price has consolidated below the MACD line, and the Marlin oscillator is attempting to enter the downtrend territory. The projected targets for the decline are as follows: 97,698, 96,236, 93,606–94,106, and 90,873, which is the low from November 26.
An upward movement could occur if the price breaks above the MACD line at around 104,348. On the four-hour chart, the price remains below the balance line (red moving average) and is holding below the 102,698 level, which is the high from January 7. The Marlin oscillator has solidified its position in the bearish zone.
The nearest targets for a decline in Bitcoin are 97,698 and 96,236. Conversely, an alternative upward scenario could develop if the price breaks above 103,794 and the MACD line at 104,348. It is worth noting that the MACD lines on the H4 and daily charts coincide, which further strengthens this resistance level.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Training video
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.