''BTC/USD at key resistance - Breakout or rejection?'"
BTC/USD 1H Analysis 🧐📊
Key Observations:
Uptrend Momentum 📈
BTC/USD is in a strong bullish trend, making higher highs and higher lows.
Key Resistance Zone Identified 🔴
Two resistance levels have been marked in red.
The price is currently testing this area, showing potential signs of rejection.
Possible Price Reaction
If BTC fails to break above the upper resistance, we might see a short-term pullback.
The lower red zone may act as a temporary support before another breakout attempt.
Bearish Rejection Signal? 🚨
The chart includes an expected rejection (red arrow).
If confirmed, BTC could retrace to find support before the next move.
Trading Plan:
✔ Bullish Scenario: A strong breakout above resistance could push BTC to new highs.
❌ Bearish Scenario: A rejection here may lead to a pullback towards recent support zones.
Key Observations:
Uptrend Momentum 📈
BTC/USD is in a strong bullish trend, making higher highs and higher lows.
Key Resistance Zone Identified 🔴
Two resistance levels have been marked in red.
The price is currently testing this area, showing potential signs of rejection.
Possible Price Reaction
If BTC fails to break above the upper resistance, we might see a short-term pullback.
The lower red zone may act as a temporary support before another breakout attempt.
Bearish Rejection Signal? 🚨
The chart includes an expected rejection (red arrow).
If confirmed, BTC could retrace to find support before the next move.
Trading Plan:
✔ Bullish Scenario: A strong breakout above resistance could push BTC to new highs.
❌ Bearish Scenario: A rejection here may lead to a pullback towards recent support zones.
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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.