This is a 1-hour chart of Bitcoin (BTC/USD) with a clear bearish outlook indicated by the analysis:
Key Observations:
Rising Channel:
Price has been moving inside an ascending channel.
Currently testing the lower boundary, suggesting potential for a breakdown.
Price Projection:
A sharp drop is anticipated after breaking the channel, supported by the downward black arrows.
The analyst anticipates a retest of the lower boundary followed by a rejection and continuation downward.
QFL Strategy Reference:
"QFL" (Quick Fingers Luc strategy) is marked with a red line, identifying a key support zone that price may break below.
50% level (retracement or zone midpoint) is noted for confluence.
Target Zone:
Final target appears to be in the $112,500 – $113,000 range.
Summary:
The chart presents a bearish thesis expecting BTC to break the ascending channel and fall toward a previous demand zone marked by the QFL level. The structure supports a short setup if the lower trendline fails to hold.
Risk Note: This is a speculative forecast; always confirm with volume, broader market context, or confirmation patterns.
thank u
Key Observations:
Rising Channel:
Price has been moving inside an ascending channel.
Currently testing the lower boundary, suggesting potential for a breakdown.
Price Projection:
A sharp drop is anticipated after breaking the channel, supported by the downward black arrows.
The analyst anticipates a retest of the lower boundary followed by a rejection and continuation downward.
QFL Strategy Reference:
"QFL" (Quick Fingers Luc strategy) is marked with a red line, identifying a key support zone that price may break below.
50% level (retracement or zone midpoint) is noted for confluence.
Target Zone:
Final target appears to be in the $112,500 – $113,000 range.
Summary:
The chart presents a bearish thesis expecting BTC to break the ascending channel and fall toward a previous demand zone marked by the QFL level. The structure supports a short setup if the lower trendline fails to hold.
Risk Note: This is a speculative forecast; always confirm with volume, broader market context, or confirmation patterns.
thank u
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.