Here’s a technical analysis based on the chart you uploaded (BTC/USDT 1-hour timeframe):
🧭 Chart Overview
- The chart shows Bitcoin (BTC/USDT) trading around $102,000.
- A descending triangle or falling wedge pattern is visible, formed by:
- A downward resistance trendline (blue diagonal line on top)
- A rising support trendline (blue diagonal line below)
- There are purple horizontal zones indicating key support and resistance levels.
🔍 Key Technical Zones
- Resistance area: around $102,800 – $103,200 (marked with purple box)
- Support area: around $99,600 – $99,900
- Mid-range support: near $101,000
📈 Possible Scenarios
1. Bullish Scenario
If BTC breaks above the descending trendline:
- Expect a move toward $103,800 – $105,000 (next resistance zone).
- A successful retest of the breakout could confirm trend reversal.
- This aligns with the upper arrow projection in the chart.
Bullish confirmation:
→ Break and close above $103,200 with strong volume.
2. Bearish Scenario
If BTC fails to break the upper resistance and rejects from $102,800–$103,200:
- Price could drop back toward the rising support line (~$100,800–$101,000).
- A break below that line could push BTC down to the $99,600 zone or even lower.
Bearish confirmation:
→ Breakdown below $100,800 with heavy selling pressure.
⚖️ Summary
| Bias | Key Level | Next Target |
|---|---|---|
| Bullish | Break above $103,200 | $104,800 – $105,800 |
| Bearish | Drop below $100,800 | $99,800 – $98,800 |
🧠 Technical Insight
- The falling wedge structure often signals a potential bullish breakout.
- However, the resistance confluence near $103K–$103.5K is crucial — watch how price reacts there.
- Keep an eye on volume — low volume breakouts are often false moves.
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