BTC & STEEM Candle chart analyze | Monday 04-08-2025

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^{I am Mostofa Jaman from a village in Bangladesh.}

Assalamu Alaikum friends, I hope everyone is well. I have come to briefly analyze the chart of Steem and BTC in front of you. Today I will try to present to you four things that are worth noting and talking about. Currently, we have seen a big fall down in the market due to the Square News. The biggest thing to notice in the BTC price is that the price bounced upwards from our exact support. Let me try to share more details with you below.

^{4 hour BTC chart analysis.}

Through the 112000 usd support and resistance, we can see exactly that the price reacted very well to our support of one hundred and twelve thousand dollars in the past day and acted as a good support. The price of one hundred and twelve thousand dollars touched the usd price and bounced upwards. This is a strong support zone for us. I have analyzed it in front of you on the four-hour chart. I have drawn a parallel channel above, where the price range is within a square, and due to the news, the BTC price went down and touched one hundred and twelve thousand dollars.

^{1 day candle STEEM chart analysis.}

As BTC goes into a major correction, other cryptocurrencies also fall down. Along with this, our Steem is going in the same direction. Looking at the one-day candle, we can clearly see that Steem has completed the ABC correction. Similarly, the price is going up after bouncing back from the support zone.

^{4 hour candle STEEM chart analysis..}

I have opened a four-hour steem candle chart and set up a Fibonacci retracement level there. I hope steem will follow at least the 0.5 Fibonacci replacement level in this breakout. That means we can see the steem price at 0.15 at any time. I hope we will touch the 0.236 Fibonacci level. Moreover, if there is no terrible news and fundamentally bad news, we can see a higher price in steem. We have a specific support and strong support in the case of BTC and in the case of steem. Which we have seen in the past few days, now we just have to find the upper resistance. With time, everyone will be fine and healthy today. May Allah Hafez.