This is a Bitcoin (BTC/USD) price chart from TradingView on the 1-hour timeframe, showing a technical analysis prediction.
Key Observations:
1. Current Price: Bitcoin is trading at $86,553, up +1.62%.
2. Resistance & Drop Prediction:
Price recently peaked near 87,000 and is showing signs of a potential pullback.
A downward arrow is drawn, predicting a decline towards the highlighted support zones.
3. Support Levels:
The first support zone is around $85,000.
A stronger support is near $84,000, marked in red.
4. Technical Indicators:
The price is currently above the red shaded area, which seems to be a Bollinger Band or a similar volatility indicator.
The previous breakout suggests the price might retest lower levels before deciding on the next trend.
Conclusion:
The chart suggests that Bitcoin might experience a pullback to the $85,000 - $84,000 range before potentially bouncing back. If it breaks below these zones, further downside could be expected.
Would you like further analysis or a different type of breakdown?
Key Observations:
1. Current Price: Bitcoin is trading at $86,553, up +1.62%.
2. Resistance & Drop Prediction:
Price recently peaked near 87,000 and is showing signs of a potential pullback.
A downward arrow is drawn, predicting a decline towards the highlighted support zones.
3. Support Levels:
The first support zone is around $85,000.
A stronger support is near $84,000, marked in red.
4. Technical Indicators:
The price is currently above the red shaded area, which seems to be a Bollinger Band or a similar volatility indicator.
The previous breakout suggests the price might retest lower levels before deciding on the next trend.
Conclusion:
The chart suggests that Bitcoin might experience a pullback to the $85,000 - $84,000 range before potentially bouncing back. If it breaks below these zones, further downside could be expected.
Would you like further analysis or a different type of breakdown?
Trade closed: target reached
BTCUSD Target successfully reached. 
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.