š Chart Analysis (BTC/USDT ā 1H)
1. Market Structure
- The chart shows a clear downtrend: lower highs and lower lows.
- A descending trendline (blue) confirms bearish momentum.
- Price recently made a strong impulsive drop, followed by a small consolidation.
2. Key Zones
šµ Major Resistance Zone
- The purple zone above current price is acting as strong supply/resistance.
- Price is currently retesting this zone after the drop.
- Candles show rejection wicks ā indicating sellers still active.
š£ Support Zone
- A small purple zone under the current price shows prior demand, but it has already been broken once.
3. Price Action
- After breaking the support, price is performing a pullback into the resistance zone.
- The structure looks like a bearish continuation pattern.
- The small consolidation under the resistance suggests build-up for another move down.
4. Expected Move (Based on Your Drawing)
Your arrows show:
- A push into the purple resistance.
- Rejection.
- Continuation downward into the lower green target zone.
This aligns with the current bearish trend.
5. Indicators
- EMAs (orange and blue) are:
- Sloping downward.
- Acting as dynamic resistance.
- Price is below both EMAs ā bearish confirmation.
6. Overall Bias
Bearish, unless price breaks and closes above the purple resistance zone.
š Summary
- Trend = Downtrend
- Price = Retesting resistance
- Bias = Continuation to the downside
- Entry idea = Look for rejection at resistance
- Invalidated if = Candles close above the purple zone + EMAs flip upward

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