Bitcoin (BTC/USD) Extends Downtrend – Further Decline Ahead?
BTC/USD 1H Chart Analysis: Bearish Continuation Expected
Key Observations:
Descending Channel Formation:
The price is moving within a well-defined downward-sloping channel (gray trendlines).
The overall structure suggests consistent lower highs and lower lows, confirming a strong downtrend.
Bearish Flag Pattern (Potential Breakdown):
The price is forming a small consolidation within the channel, resembling a bearish flag pattern.
If the price fails to break above the upper boundary, it could lead to a continuation of the downtrend.
Red Arrow Projection (Further Decline Expected):
The chart suggests a small relief bounce before another drop towards lower support levels.
If the price fails to break above resistance near $85,000, we could see a continuation toward $82,000 - $80,000.
Trading Outlook:
Bearish Bias: As long as BTC remains inside the descending channel, further downside is expected.
Break & Retest Confirmation: Watch for rejection at $85,000 - $86,000, which could act as a strong resistance zone.
Target Levels:
Short-term: $82,000
Extended target: $80,000
Invalidation: A break above $87,000 could invalidate the bearish setup and signal a potential reversal.
Conclusion:
Downtrend Continuation Likely: BTC remains in a strong bearish structure.
Watch for a Pullback: Any rejection from resistance strengthens the case for further decline.
Bearish Targets: $82,000, then $80,000 if momentum continues.
Key Observations:
Descending Channel Formation:
The price is moving within a well-defined downward-sloping channel (gray trendlines).
The overall structure suggests consistent lower highs and lower lows, confirming a strong downtrend.
Bearish Flag Pattern (Potential Breakdown):
The price is forming a small consolidation within the channel, resembling a bearish flag pattern.
If the price fails to break above the upper boundary, it could lead to a continuation of the downtrend.
Red Arrow Projection (Further Decline Expected):
The chart suggests a small relief bounce before another drop towards lower support levels.
If the price fails to break above resistance near $85,000, we could see a continuation toward $82,000 - $80,000.
Trading Outlook:
Bearish Bias: As long as BTC remains inside the descending channel, further downside is expected.
Break & Retest Confirmation: Watch for rejection at $85,000 - $86,000, which could act as a strong resistance zone.
Target Levels:
Short-term: $82,000
Extended target: $80,000
Invalidation: A break above $87,000 could invalidate the bearish setup and signal a potential reversal.
Conclusion:
Downtrend Continuation Likely: BTC remains in a strong bearish structure.
Watch for a Pullback: Any rejection from resistance strengthens the case for further decline.
Bearish Targets: $82,000, then $80,000 if momentum continues.
Trade closed: target reached
🎯✅ Another Target Hit – btc/usd Playing Out Perfectly! ✅🎯
Boom! 🚀 Our analysis on EUR/USD nailed the key resistance zone, leading to the expected rejection! 📉🔥
Patience and precision always pay off in trading! If you caught this move, let me know in the comments! 💰💡
More setups coming—stay tuned, and let’s keep winning together! 🏆📊
#btcusd #ForexQueen
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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.
Related publications
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.