This is a Bitcoin (BTC) price chart from TradingView, showing a technical analysis on the 1-hour timeframe for the BTC/USDT trading pair on Binance.
Key Elements in the Chart:
1. Support & Resistance Zones:
A Fibonacci 1% Retest Area is marked as a strong support zone where the price might reverse.
Last High Resistance Zone around 92,836.54 USDT.
A larger resistance zone above 94,000 USDT.
2. Trendlines & Price Projection:
A downtrend line is drawn, indicating a recent bearish trend.
A bullish scenario is projected, suggesting price action may break above the trendline, consolidate, and eventually surge toward the 92,836.54 USDT resistance level.
3. Potential Price Movement:
The price is currently near 82,792.70 USDT.
Expected bounce from the support zone (around 81,000 - 82,000 USDT).
A possible breakout of the descending trendline, leading to a bullish move towards 92,836.54 USDT.
This analysis suggests a potential reversal and bullish breakout, with traders possibly watching the Fibonacci retest area as a key level.
Key Elements in the Chart:
1. Support & Resistance Zones:
A Fibonacci 1% Retest Area is marked as a strong support zone where the price might reverse.
Last High Resistance Zone around 92,836.54 USDT.
A larger resistance zone above 94,000 USDT.
2. Trendlines & Price Projection:
A downtrend line is drawn, indicating a recent bearish trend.
A bullish scenario is projected, suggesting price action may break above the trendline, consolidate, and eventually surge toward the 92,836.54 USDT resistance level.
3. Potential Price Movement:
The price is currently near 82,792.70 USDT.
Expected bounce from the support zone (around 81,000 - 82,000 USDT).
A possible breakout of the descending trendline, leading to a bullish move towards 92,836.54 USDT.
This analysis suggests a potential reversal and bullish breakout, with traders possibly watching the Fibonacci retest area as a key level.
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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.
XAUUSD GOLD + BTCUSD Daily 5-6 Free Signals📊🚀
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+edOvr8d3ZTkyMzdk
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/+edOvr8d3ZTkyMzdk
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.