š Chart Analysis (1H BTC/USDT ā Binance)
1. Price Context
- Bitcoin is currently trading around 92,000 USDT.
- The chart shows a series of lower highs and lower lows, indicating a short-term bearish structure.
2. Key Levels
š“ Resistance Zone (Supply Area)
- A strong resistance/supply zone is marked around
93,200 ā 93,600 USDT (highlighted in pink). - Price has previously reacted here twice with clear sell-offs.
š£ Support Zone (Demand Area)
- Major support is shown around
89,500 ā 89,700 USDT. - This area has been tested and held before, confirming demand.
3. Market Structure
- Price recently bounced but is approaching the same resistance zone where sellers stepped in before.
- The arrow you drew suggests another expected rejection from resistance.
4. Trade Idea Shown on Chart
š Expected Move (Bearish)
- The chart indicates a potential short position if BTC revisits the resistance zone.
- The idea:
ā Price returns to the pink supply zone
ā Bears step in
ā Price continues down toward the lower support
This aligns with the existing downtrend structure.
5. Indicators
- Several short-term moving averages are slightly crossing up but still under the larger structure.
- This usually signals a short-lived pullback rather than a full reversal.
6. Summary
- Trend: Bearish
- Resistance: 93,200 ā 93,600 (likely rejection area)
- Support target: 89,500 ā 89,700
- Idea: Short from supply zone if price retests it
Your chart seems to reflect the expectation that BTC will:
ā Pull back to resistance
ā Reject downward
ā Continue toward lower support
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