š Overall Structure
- The chart shows BTC/USDT (1-hour timeframe on Binance) currently trading around $102,300.
- There was a descending trendline (blue) that has now been broken ā a potential bullish signal.
- Price is currently pulling back (retesting) the breakout area.
š Bullish Scenario (Upside Potential)
If price bounces from the purple support zone around $101,800 ā $102,000:
- It would confirm a successful trendline retest.
- The next resistance (target) zones are around:
- $103,500 ā $104,000
- Then $105,800 ā $106,000
š¢ Bullish Confirmation Signs:
- Strong bullish candle forms at the $102,000 area.
- Moving averages (orange/blue lines) start crossing upward again.
š Bearish Scenario (Downside Risk)
If price breaks below $102,000:
- It could trigger a bearish continuation.
- The next strong support zone is around $99,600 ā $99,800.
š“ Bearish Confirmation Signs:
- 1H candle closes below $101,800 with strong selling volume.
- Momentum indicators point downward.
āļø Summary
| Scenario | Condition | Target Levels |
|---|---|---|
| š¢ Bullish | Bounce from $102k zone | $103.5k ā $105.8k |
| š“ Bearish | Break below $101.8k | $99.8k ā $99.6k |
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