BITCOIN 4HR CHARTBTCUSDT SPOTBYBIT:BTCUSDTShavyfxhubBTCUSDT 4H Chart Analysis (Shavyfxhub Strategy) Current Price: ≈ 62,980 Overall Market Structure Price is trading inside a large ascending channel formed by the red rising trendlines (supply roof channel) and the green lower support lines. However, the most recent price action shows rejection from the upper confluence zone near 65,700–66,000. Multiple SS (Strength of Structure) labels are sitting on that red horizontal resistance, confirming it as a strong supply roof. The chart currently shows lower highs forming after the rejection, and the downward arrows on the right indicate the potential for a deeper corrective move. Key Levels (Shavyfxhub Style) Supply Roof / Resistance: 65,733 – 66,000 → Major CONFLUENCE zone (multiple SS + red horizontal + channel resistance). This is the strongest supply roof on the chart. Upper red ascending channel resistance. Demand Floor / Support: Immediate demand zone around 62,000 – 61,200 (current area and the green horizontal). Stronger demand floor cluster near 60,400 – 59,700. Deeper demand floors visible lower around 55,000 – 54,000 (long-term green support channel). Current Bias Short-term bearish / corrective while price remains below the 65,700–66,000 confluence supply roof. Price has failed to hold above the mid-channel and is now pressing lower. The structure is still inside the bigger ascending channel, so this is currently viewed as a pullback within a larger bullish structure — unless the lower demand floors break decisively. Key Scenarios Bearish continuation (preferred while below 65,700): Rejection or failure to reclaim the confluence zone Next downside targets: 62,000 – 61,200 (immediate demand) 60,400 – 59,700 (stronger demand floor) Deeper liquidity toward 55,000 – 54,000 if structure fully breaks Bullish recovery scenario: Strong bounce and close back above 64,500–65,000 Full reclaim of the 65,700 confluence would reopen the path toward 67,000–69,000 (upper channel) Summary (Shavyfxhub View) Structure = Higher timeframe ascending channel still intact Immediate structure = Rejection from major supply roof + confluence Critical level to watch = 65,700–66,000 (must reclaim for bulls) Key demand floors = 62,000 → 60,400 → 55,000 Price is currently in a corrective phase inside the bigger bullish channel. The next decisive move will depend on whether the 60,400 demand floor holds or gets taken out. BITCOIN