The Bitcoin price is currently trading at a major support zone in the 4-hour timeframe.
This $25,301 support zone offers us an important key region to keep a close eye on. How the Bitcoin price reacts to this zone will directly affect the trend of the Altcoin for the next couple of weeks.
So in this Bitcoin analysis, we will be breaking down the possible price scenarios that might be setting up and the key level we are watching.
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BTC Bullish Price Scenario
For the BTC bullish scenario, we need to see the Bitcoin price continue to respect and trade above this $25,301 key support zone in the 4-hour timeframe.
If this level can hold, there is a very high probability that we might see a bullish bounce and rally higher from this $25,301 support zone as more and more buyers begin to step into the market.
So for now, we are keeping a close eye on the BTC $25,301 support to see if the ETH bulls can continue to defend it in the coming days.
BTC Bearish Scenario!
For the BTC bearish scenario, we need to see the Bitcoin price break through and close below a key support region in the 4-hour timeframe.
A bearish Bitcoin breakdown below this $25,301 support region only gives more validation to an Ethereum bearish bias in the coming days.
Well, this $25,301 support zone is still holding for now, so we will be standing aside and keeping a close eye on this region to see how BTC continues to react to it.
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