BTCUSD TRADE IDEA
This Bitcoin (BTC/USD) price chart on the 1-hour timeframe from Binance displays a technical analysis with key support and resistance levels. Here's a breakdown of the analysis:
1. Support Zone (Highlighted in Orange)
The price recently found support around the $98,500-$99,000 region.
A double-bottom or reversal pattern seems to be forming, suggesting a potential bullish move.
2. First Target (Highlighted at $107,959.21)
The price is expected to move upwards toward the first resistance zone.
If the price breaks past this level, it could confirm bullish momentum.
3. Demand Zone (Highlighted Around $113,101.98)
This is the key resistance area where sellers may become active.
If Bitcoin reaches this zone and breaks above, it could indicate a continuation of the uptrend.
4. Bullish Momentum Indicated
The chart suggests an inverse head and shoulders or cup-and-handle pattern, indicating a bullish bias.
Arrows and annotations suggest a potential breakout towards the demand zone if resistance levels are cleared.
This analysis implies a possible short-term bullish move, but confirmation from volume and additional indicators would strengthen the case for a sustained rally.
1. Support Zone (Highlighted in Orange)
The price recently found support around the $98,500-$99,000 region.
A double-bottom or reversal pattern seems to be forming, suggesting a potential bullish move.
2. First Target (Highlighted at $107,959.21)
The price is expected to move upwards toward the first resistance zone.
If the price breaks past this level, it could confirm bullish momentum.
3. Demand Zone (Highlighted Around $113,101.98)
This is the key resistance area where sellers may become active.
If Bitcoin reaches this zone and breaks above, it could indicate a continuation of the uptrend.
4. Bullish Momentum Indicated
The chart suggests an inverse head and shoulders or cup-and-handle pattern, indicating a bullish bias.
Arrows and annotations suggest a potential breakout towards the demand zone if resistance levels are cleared.
This analysis implies a possible short-term bullish move, but confirmation from volume and additional indicators would strengthen the case for a sustained rally.
Trade active
Gold Free Signals 👇👇
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
Gold Free Signals 👇👇
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
t.me/GoldVipSignals7
For Free Signals Join My Channel
t.me/GoldVipSignals7
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.