Technical analysis for BTC/USD 1-hour chart you provided:
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BTC/USD Analysis – Bearish Flag Breakdown Below Resistance
🔍 Overview:
Bitcoin is trading around $105,317, near a major resistance zone between $106,000–$107,000, where price has previously been rejected (marked by red arrows).
The current upward movement appears to be a bearish flag/channel, typically a continuation pattern within a larger downtrend.
📉 Market Structure & Projection:
The chart anticipates rejection from the resistance area and a breakdown of the flag, with the price targeting the key support level at $101,027.
If confirmed, this would signal a resumption of bearish momentum after the temporary pullback.
📊 Indicators:
EMA 50 (Red) is below EMA 200 (Blue), suggesting a bearish trend bias.
RSI (14) is at 47.33—below the 50 line, showing weak bullish strength and room for downside continuation.
🎯 Target & Risk:
Target: $101,027
If price confirms the pattern breakdown, traders may look for short setups toward the support level.
Confirmation could come from a break below the lower trendline of the flag and strong bearish candles.
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BTC/USD Analysis – Bearish Flag Breakdown Below Resistance
🔍 Overview:
Bitcoin is trading around $105,317, near a major resistance zone between $106,000–$107,000, where price has previously been rejected (marked by red arrows).
The current upward movement appears to be a bearish flag/channel, typically a continuation pattern within a larger downtrend.
📉 Market Structure & Projection:
The chart anticipates rejection from the resistance area and a breakdown of the flag, with the price targeting the key support level at $101,027.
If confirmed, this would signal a resumption of bearish momentum after the temporary pullback.
📊 Indicators:
EMA 50 (Red) is below EMA 200 (Blue), suggesting a bearish trend bias.
RSI (14) is at 47.33—below the 50 line, showing weak bullish strength and room for downside continuation.
🎯 Target & Risk:
Target: $101,027
If price confirms the pattern breakdown, traders may look for short setups toward the support level.
Confirmation could come from a break below the lower trendline of the flag and strong bearish candles.
Feedback My idea like and comment's 🙏
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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.
Join My Official Channel Link
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Join My Public Channel Link
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Join My Public Channel Link
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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.