FX.co ★ #Bitcoin chart analysis

Trader Journals:::2026-07-19T02:55:05

#Bitcoin chart analysis

BITCOIN TODAY SUNDAY, 19/07/2026 Here is the TECHNICAL ANALYSIS & TRADING PLAN for the next Bitcoin move based on the 4-hour chart. STRUCTURE & PATTERN - Main Trend: After the early June decline, price formed a rising channel (uptrend channel) marked by the purple lines, with each high and low getting higher → a sign of a steady bullish recovery. - Dynamic Line: The red 50 MA is sloping gently upward, price has just broken above it, turning it into dynamic support. - Key Levels: - Nearest support: 64,823 (previous resistance zone) + rising trendline + 63,875 - Strong support: 61,828 (if it breaks below the rising channel) - First resistance: 65,602 → 67,385 (main target on the chart) - Next resistance: 69,812 if it breaks above 67,385 CURRENT SIGNAL - Price is on the verge of breaking the 64,823–65,602 resistance zone; if it manages to close an H4 candle above 65,602, upside room toward 67,385 will open wide. - As long as price stays above the purple rising trendline, the bullish bias is maintained; a drop below this line will invalidate the bullish scenario and risk a move back to 61,828.

TRADING PLAN Scenario 1: Uptrend (Main Scenario) - Entry conditions: Scale in when price pulls back to the 64,500–64,800 zone and shows signs of bouncing; Or enter after an H4 candle clearly closes above 65,602. - Stop Loss: - Short-term positions: 63,700 (below key support + rising trendline) - Medium-term positions: 61,700 - Take Profit Targets: - TP1: 67,385 (main resistance) - TP2: 69,800 (if strong buying volume comes in and TP1 is broken) Scenario 2: Downtrend (Alternative Scenario) - Entry conditions: Price closes below the purple rising trendline and 63,875 with strong selling volume. - Short positions: Scale in around the 63,500–63,800 zone. - Stop Loss: 65,700 - Take Profit Targets: - TP1: 61,828 - TP2: 59,100 if weakness continues That’s the analysis and trading plan for Bitcoin going forward. Hopefully the market responds well. However, always stay alert and always use risk management wisely because this is only technical analysis based on the chart, which can play out the other way if there is macro news related to crypto policy. Good morning and happy profits!!

teagan.orn

Forum user