Analysis
Updated
BTC/USD 1H Analysis
1. Key Resistance Zone: The resistance zone lies between $98,300 and $100,000. Price action in this zone indicates strong selling pressure, making it a critical level for bullish continuation.
2. Support Zone: A significant support zone is identified near $92,000. This level could serve as a potential rebound area if the price experiences a downward movement.
3. Trend Outlook:
The current price structure suggests a potential rejection from the resistance zone.
A descending trendline indicates a bearish sentiment, with the next likely target being the $96,000 level and potentially further down towards the $92,000 support.
Trading Strategy:
Short Position: Consider entering a short position if price confirms a rejection from the resistance zone with appropriate stop-loss above $100,000.
Long Position: If price breaks and consolidates above the $100,000 level, it could indicate a bullish breakout. In that case, look for opportunities to go long.
1. Key Resistance Zone: The resistance zone lies between $98,300 and $100,000. Price action in this zone indicates strong selling pressure, making it a critical level for bullish continuation.
2. Support Zone: A significant support zone is identified near $92,000. This level could serve as a potential rebound area if the price experiences a downward movement.
3. Trend Outlook:
The current price structure suggests a potential rejection from the resistance zone.
A descending trendline indicates a bearish sentiment, with the next likely target being the $96,000 level and potentially further down towards the $92,000 support.
Trading Strategy:
Short Position: Consider entering a short position if price confirms a rejection from the resistance zone with appropriate stop-loss above $100,000.
Long Position: If price breaks and consolidates above the $100,000 level, it could indicate a bullish breakout. In that case, look for opportunities to go long.
Trade active
Trade closed manually
"#BTC SELL Target Achieved!
The trade was a success. Secure your profits and stay prepared for the next move. 🏆📉
Keep following for more updates and trading insights!"
"Join our official Telegram channel to receive in-depth analysis and free trading signals.👇"
t.me/Trade_with_Olivia_Grace
t.me/Trade_with_Olivia_Grace
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.