✅ Overall Market Structure
The chart is BTC/USDT on the 1-hour timeframe.
Price is in a short-term downtrend, followed by a corrective ascending channel (a rising wedge-like structure).
This typically signals bearish continuation unless the structure breaks upward with momentum.
🟣 Key Levels Marked on Your Chart
1. Major Resistance Zone (Upper Purple Box / Line)
- Price previously rejected strongly from this zone twice.
- This level remains a high-probability supply area.
- Your arrow correctly shows price likely to drop again if it retests this zone.
2. Intermediate Resistance (Middle Purple Line)
- This is the “neckline” of a structure.
- If price reaches here, another bearish reaction is likely unless momentum breaches it.
🔵 Ascending Channel (Current Price Action)
You have drawn a rising parallel channel.
Inside this channel:
- Price is creating higher lows and higher highs, but…
- Momentum is weak, candles are small, and volatility is compressing.
This type of channel in a downtrend often breaks downwards.
Your arrow pointing down from the channel is aligned with typical price behavior.
📉 Bearish Scenario (Most Likely Based on Structure)
If the channel breaks down:
- Expect fast movement toward 83,100 – 82,500 support area.
- The downward red/green risk-reward box on the lower right matches this target area.
This is the higher-probability scenario.
📈 Bullish Scenario (Requires Breakout)
If buyers break above the ascending channel:
- Next target is the intermediate purple resistance.
- If that level breaks, price can push toward the major supply zone at the top.
- The upward risk-reward box on the right side matches this.
This scenario is possible but lower probability unless BTC gains volume.
🧭 Summary
- Current market = bearish trend + bullish correction (ascending channel).
- Most likely next move = breakdown from the channel → move lower.
- Only a strong breakout above the channel and purple resistance shifts bias to bullish.
JOIN EXNESS BROKER 3/7 MINUTES VERIFY ACCOUNT
WITHDRAWAL IN FEW MINUTES
Exness:
https://one.exnessonelink.com/a/j295642k3f
XM :
https://www.xm.com/referral?token=VMcR3Zp27768XbCPjr9nGA