This chart is a technical analysis of Bitcoin (BTC/USDT) on the 1-hour timeframe from Binance, showing possible price movement predictions.
Here’s a detailed breakdown in English:
🔍 Chart Overview
- Current Price: Around $103,282
- Timeframe: 1 Hour (1H)
- Trend Channel: A rising channel (marked in blue) showing a short-term bullish correction within a larger downtrend.
- Previous Movement: A strong downtrend before the current upward channel formation.
📈 Key Zones & Structures
- Resistance Zone (Purple Rectangle on Top):
- Around $104,500–$105,000
- Price might face rejection here since it acted as a supply zone before.
- Support Zone (Purple Rectangle on Bottom):
- Around $99,200–$99,600
- This is a demand zone where price previously reversed upward.
- Trend Channel:
- The price is moving upward between two parallel blue lines.
- It suggests a temporary bullish correction inside a broader bearish structure.
🔮 Projected Scenarios (Blue Arrows)
- Scenario 1 – Short-Term Bullish Move:
- Price may rise slightly to retest the upper boundary of the channel or the resistance zone (~$104,500–$105,000).
- Scenario 2 – Bearish Reversal:
- After touching resistance, a break below the channel could confirm a continuation of the downtrend.
- Target would be the lower support zone near $99,200.
⚙️ Technical Indicators
- Moving Averages (Orange & Blue lines):
- Likely the 9 EMA and 21 EMA.
- They’re showing short-term bullish momentum, but if they cross downward, it may signal a sell opportunity.
🧭 Summary
- Bias: Short-term bullish, medium-term bearish.
- Possible Trade Plan:
- Wait for a retest near $104,500–$105,000 → look for bearish confirmation.
- Sell target: ~$99,200 zone.
- If price breaks above $105,000 with strong momentum → invalidates the bearish setup.
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