BTC/USDT Price Action: Key Support & Resistance Levels in Play!
This is a BTC/USDT 1-hour chart from Binance,
Key Observations:
Support & Resistance Levels:
There is a strong support around $95,400 - $95,800, marked by a gray zone.
A resistance zone is seen around $96,100 - $96,580, highlighted in red.
The previous high near $99,600 acted as a strong rejection level.
RSI-Based Entries & Exits:
RsiLE (Relative Strength Index Long Entry) at the lower support area suggests a buy signal.
RsiSE (Relative Strength Index Short Entry) near the peak suggests an overbought market, leading to a sell-off.
Trendline Breakout & Retest:
A strong bullish push to the upside broke previous highs but was followed by a sharp rejection.
The price has since retraced and is now consolidating within a gray demand zone.
Future Outlook:
Bullish Scenario: If BTC breaks above $96,200 - $96,500, we could see a push toward $97,200 - $98,000.
Bearish Scenario: A rejection from the $96,000 area could trigger a decline back to $95,400 or lower.
Key Observations:
Support & Resistance Levels:
There is a strong support around $95,400 - $95,800, marked by a gray zone.
A resistance zone is seen around $96,100 - $96,580, highlighted in red.
The previous high near $99,600 acted as a strong rejection level.
RSI-Based Entries & Exits:
RsiLE (Relative Strength Index Long Entry) at the lower support area suggests a buy signal.
RsiSE (Relative Strength Index Short Entry) near the peak suggests an overbought market, leading to a sell-off.
Trendline Breakout & Retest:
A strong bullish push to the upside broke previous highs but was followed by a sharp rejection.
The price has since retraced and is now consolidating within a gray demand zone.
Future Outlook:
Bullish Scenario: If BTC breaks above $96,200 - $96,500, we could see a push toward $97,200 - $98,000.
Bearish Scenario: A rejection from the $96,000 area could trigger a decline back to $95,400 or lower.
Trade closed: target reached
🎉🎯 Target Hit! Another Successful Analysis! 🎯🎉
Big shoutout to my amazing followers! 🚀 Our recent (BTC/USDT) analysis played out exactly as expected, respecting the key resistance zone and delivering a beautiful reaction. 📉🔥
This is why we trust our technicals and stay patient! 💡💰 If you caught this move, drop a 🔥 in the comments! More setups coming soon—let’s keep winning together!
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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.