⚠️Bitcoin is currently consolidating following a significant bearish rally.
The price is coiling within a horizontal trading range on a 4-hour timeframe.
Based on the price's reaction to these boundaries, two potential scenarios are anticipated:
Bullish Scenario:
Should the price break and close above 104,640 on a 4-hour timeframe, a bullish trend continuation is expected.
The target for this scenario is 108,000.
Bearish Scenario:
Conversely, if the price drops and closes below 98,780 on the 4-hour timeframe, a bearish movement is anticipated.
The objective for this scenario is 96,000.
Given the current oversold market conditions, a bullish bias is held.
However, further observation is warranted to confirm the market's direction.
What are your expectations?