This is a Bitcoin (BTC) to Tether (USDT) price chart from TradingView, published by the Forex_Trading_Team. It is a 1-hour timeframe chart from Binance, showing price action around the 87,427 USDT level.
Key Observations:
Support & Resistance Zones: Two purple zones highlight key resistance (around 88,500 USDT) and support (around 86,500 USDT) areas.
Trendlines:
A black ascending trendline suggests a previous uptrend.
The price has broken below this trendline, indicating potential weakness.
Price Projection (Blue Lines & Arrows):
The blue lines show a potential short-term upward move towards resistance.
A projected rejection from resistance could lead to a downward move, targeting the 86,500 USDT support.
This analysis suggests a possible bearish movement after a minor bounce, aligning with a potential break of key support levels. Would you like further insights into trading strategies based on this setup?
Key Observations:
Support & Resistance Zones: Two purple zones highlight key resistance (around 88,500 USDT) and support (around 86,500 USDT) areas.
Trendlines:
A black ascending trendline suggests a previous uptrend.
The price has broken below this trendline, indicating potential weakness.
Price Projection (Blue Lines & Arrows):
The blue lines show a potential short-term upward move towards resistance.
A projected rejection from resistance could lead to a downward move, targeting the 86,500 USDT support.
This analysis suggests a possible bearish movement after a minor bounce, aligning with a potential break of key support levels. Would you like further insights into trading strategies based on this setup?
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.