We have identified the $80,000 as the key level to watch in this time frame, as this is where the 200-day exponential moving average (EMA) should lie over the next few days.
Meanwhile, the Relative Strength Index (RSI) is nearing 60, indicating that bullish momentum is accelerating rapidly.
Everything Looks Set for Another “Buy” in the 4-Hour Time Frame
Heading to the chart, the 4-hour price action shows that BTC consolidated its jump above a key trend line support we identified days ago.
Our baseline bullish trade for Bitcoin is currently yielding positive results. In our last Bitcoin price prediction, we shared an attractive opportunity at $70,000, offering a 2.9x risk-reward ratio.