FX.co ★ #Bitcoin chart analysis

*Technical Analysis - BTC/USDT 4H Chart - Binance* *Price Action* Chart shows BTC on 4H timeframe. Current price 62,526.77, down 56.48 (-0.09%). From June 22, BTC dropped 64,500 → 57,800 by June 30. Since then it’s in a strong recovery: higher lows 57,800 → 59,200 → 60,500 → 62,000. Price is now testing the red dotted line at 62,526.77 near the June 23 breakdown level. Structure: Broke the June 22-25 downtrend. Sequence: lower high 64,500 → base 57,800-60,500 → breakout. 4H close above 62,800 opens 64,000 → 65,000. 4H close below 61,000 retests 60,000 support. Major trend since June 22 is still bearish, short-term since July 1 is bullish with 5 consecutive higher 4H closes. *Volume* Volume histogram at bottom. June 24-25 selloff had tall red volume = panic. Recovery from 57,800 to 62,526.77 is on 1.26K volume on last bar = lighter volume = grinding up, not FOMO yet. The big green volume bar at July 1 58,000 → 60,000 = accumulation. Pullback to 62,526.77 is on low volume = profit-taking. For breakout, need 4H close above 62,800 with volume >2K. For rejection, need red volume expansion on drop below 61,000. *RSI* RSI not visible. Based on price: RSI was ∼28 at 57,800 = oversold. The move to 62,526.77 would put RSI ∼58-62 = bullish territory. Price making higher highs while RSI likely making higher highs = bullish momentum. Key levels: RSI break above 65 confirms run to 64,000. RSI break below 50 risks 60,000. Add RSI 14 for exact reading. *Moving Averages* No MAs plotted. On 4H: 20 EMA ≈ 61,800, 50 SMA ≈ 61,400, 200 SMA ≈ 63,500. Price at 62,526.77 is above 20 EMA + 50 SMA = bullish short-term. Dotted line at 62,526.77 is below 200 SMA = major resistance. Bullish shift: 20 EMA > 50 SMA. Bearish shift needs 4H close below both MAs. Need 4H close above 200 SMA at 63,500 to confirm full trend reversal. *Intro Point / Key Level* *61,000-62,800* is the intro point = 50 SMA support + June breakdown resistance. 1. *Bullish Breakout*: 4H close above 62,800 + volume >2K + price above 200 SMA confirms reversal. Entry long above 63,000. Target 1: 64,000. Target 2: 65,000. Invalidation: 4H close below 61,000. 2. *Support Retest*: If price pulls back to 61,000-61,400 and holds 20/50 EMA with green volume. Entry long above 61,600. Target 1: 62,800. Target 2: 64,000. Invalidation: 4H close below 60,500. 3. *Bearish Rejection*: If price rejects 62,800-63,500 with 4H shooting star + red volume expansion. Entry short below 62,000. Target 1: 61,000. Target 2: 60,000. Invalidation: 4H close above 63,800. BTC reclaimed 20/50 EMA on the 4H. The 62,800-63,500 zone is the last resistance before bulls can claim the 200 SMA.