🔍 Chart Overview:
- Pair: BTC/USDT (Bitcoin vs Tether)
- Timeframe: 1-hour (1H)
- Exchange: Binance
- Current Price: Around $103,368
🧭 Technical Structure:
- Support and Resistance Zones (Purple Boxes):
- Upper Resistance: Around $106,900 – $107,400
- Mid-Zone Resistance/Support: Around $104,000 – $104,400
- Lower Support: Around $102,300 – $102,800
- Price Action:
- Price previously dropped from the upper resistance.
- It’s now consolidating and attempting to move back up near the EMA lines.
- The EMAs (Exponential Moving Averages) show short-term bearish momentum — the faster EMA (orange) is below the slower one (blue).
📉 Possible Scenarios (As Drawn on Chart):
- Scenario 1 – Bullish Reversal:
- Price breaks above the mid-zone resistance (~$104,000).
- Then retests that level as support before pushing upward.
- Target: The upper resistance zone (~$107,000).
- Scenario 2 – Bearish Continuation:
- Price fails to break above the mid-zone resistance.
- Rejection leads to another move down.
- Target: Lower support zone (~$102,500).
- If that breaks, next target could be below $101,000.
📊 Summary:
- Current Bias: Slightly bearish until price breaks above $104,000.
- Key Levels to Watch:
- Break above $104,000 = bullish confirmation.
- Break below $102,300 = continuation of bearish trend.
- Strategy Suggestion: Wait for clear confirmation before entering — the market is in a range between $102K and $104K.
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