Bitcoin Dominates as Short-Term Downtrend Continues

The analysis suggests that Bitcoin's short-term trend on the hourly chart remains downward as long as it stays above 105,899. On the two-hour chart, a bullish trend would require it to stabilize above 106,476; otherwise, it is considered bearish. The three-hour chart indicates a downward trend until it stabilizes above 107,389. Currently, on the four-hour chart, unless Bitcoin stabilizes above 107,400, the trend remains downward. The key support zone identified is between 103,100 and 103,300, with a potential decline to 102,678 if this support is broken. Weekly chart analysis points to significant volatility ahead for Bitcoin. HTML:

Bitcoin Short-term and Long-term Perspectives Indicate Ongoing Downtrend

The detailed technical analysis reveals that Bitcoin is currently in a downtrend across multiple timeframes. On the hourly chart, the trend persists unless it manages to hold above the 105,899 level. The two-hour chart's bullish signal is only valid if Bitcoin surpasses 106,476 and remains stable. Similarly, on the three-hour chart, the resistance level is 107,389, and without breaking this, the trend stays bearish. The four-hour chart underscores that unless Bitcoin maintains above 107,400, the downward trajectory continues. The identified crucial support is within the range of 103,100 to 103,300. A break below this could lead to a decline toward 102,678. Additionally, weekly chart assessments forecast considerable volatility, suggesting that traders should prepare for substantial fluctuations in Bitcoin's price in the coming weeks.