Market Overview Current Price: $76,635 Timeframe: 4H primary, broken into 1H and 15m for microstructure Trend Bias: Bearish medium-term, but short-term signs of bounce developing Indicators Used: Bollinger Bands (20, 2) MACD (12, 26, 9) EMA 20/50 (manually interpreted from Bollinger mid-line and price structure) Candlestick patterns (price action) Pattern Analysis Double Bottom Formation (4H & 1H) Price tapped a double bottom around $73,950, showing strong rejection and buying response. This could be a bullish reversal pattern forming if the price reclaims the $77,500–$78,000 zone. Falling Wedge (1H & 15m) A clear falling wedge is seen, with price consolidating and wicks indicating pressure from buyers. Breakout potential toward the upper band at $78,800 in the short term. Hammer Candlestick (15m) Strong hammer wick formed near $73,950 on 15m, with buyers absorbing sell pressure — an early signal of reversal. Indicator Analysis Bollinger Bands 4H: Price pierced and bounced off the lower Bollinger Band — classic mean reversion setup. Middle band (BB midline) = ~EMA 20 = $78,889, likely first target. MACD 4H: MACD is deeply negative but the histogram shows bullish convergence forming. 1H: Near bullish crossover. 15m: MACD already turned positive with histogram growing — supports incoming bullish momentum. EMA (Estimated from BB midline + structure) EMA 20 (4H): ~$78,889 EMA 50 (4H): ~$83,820 The current price is under both, so they act as key resistance zones. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Key Support & Resistance Levels Support Levels: $73,958 – Critical double-bottom zone $72,500 – Psychological & fib extension zone (if drop continues) Resistance Levels: $78,889 – EMA 20 / BB midline $80,500–$81,000 – Short-term structure ceiling $83,820 – EMA 50 and Bollinger upper band (strong resistance) 8-Hour Price Projection Bitcoin (BTC) appears to be forming a temporary base at $73,950 with bullish reversal signs developing across the board. The next 8 hours may see a rally toward $78.8k–$80.5k if the falling wedge pattern confirms and volume steps in. Watch closely for the MACD cross on 1H and price closing above $77.5k to validate the upside. Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Bitcoin (BTC) Price Projection: Lower Support Rejected, 8-Hour Relief Rally Eyed – Key Levels to Watch appeared first on Times Tabloid .