Bitcoin (BTC) Technical Analysis – Short-Term
📉 Market Situation:
BTC/USD has set a new local low at $82,256.01.
A bullish divergence is forming on the 1-hour (1H) timeframe based on the RSI indicator, signaling a potential trend reversal.
The downside potential appears limited, as selling pressure is weakening.
📌 Key Levels:
Support: $82,256 – a critical level for a potential reversal. If this level breaks, the next target could be $79,100.
Resistance: Shifting to $89,300.
For bullish confirmation, BTC must hold and stabilize above $89,300.
📈 Expectations & Scenarios:
1️⃣ Bullish Scenario: If BTC holds its current levels, a rebound towards $89,300 resistance is likely.
2️⃣ Bearish Scenario: If BTC fails to break resistance or faces renewed selling pressure, a retest of $79,100 is possible.
🔹 Conclusion: A trend reversal is more likely at these levels, but confirmation is needed for an upward movement. A break and hold above $89,300 would validate a bullish scenario.
This analysis reflects only certain perspectives and should not be considered as investment or trading advice. It is recommended to conduct your own analysis and develop a trading strategy or consult with a qualified professional before making any investment decisions.
BTC/USD has set a new local low at $82,256.01.
A bullish divergence is forming on the 1-hour (1H) timeframe based on the RSI indicator, signaling a potential trend reversal.
The downside potential appears limited, as selling pressure is weakening.
📌 Key Levels:
Support: $82,256 – a critical level for a potential reversal. If this level breaks, the next target could be $79,100.
Resistance: Shifting to $89,300.
For bullish confirmation, BTC must hold and stabilize above $89,300.
📈 Expectations & Scenarios:
1️⃣ Bullish Scenario: If BTC holds its current levels, a rebound towards $89,300 resistance is likely.
2️⃣ Bearish Scenario: If BTC fails to break resistance or faces renewed selling pressure, a retest of $79,100 is possible.
🔹 Conclusion: A trend reversal is more likely at these levels, but confirmation is needed for an upward movement. A break and hold above $89,300 would validate a bullish scenario.
This analysis reflects only certain perspectives and should not be considered as investment or trading advice. It is recommended to conduct your own analysis and develop a trading strategy or consult with a qualified professional before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.