Bitcoin is currently trading within an ascending channel on the 1-hour timeframe, showing a structure of higher highs and higher lows.
🔹Support Level: The price is testing the lower boundary of the channel ($83,000). If this level holds, we could see a bounce towards the upper trendline. 🔹Resistance Level: The upper boundary of the channel ($84,500 - $85,000) remains a key resistance area. 🔹Breakout Scenario:
A bullish breakout above the upper trendline could signal continuation towards $86,000+.
A bearish breakdown below the channel could bring a drop toward $82,000 - $81,500 support levels.
📈 Watch for a reaction at the current support level – a strong bounce could provide long opportunities, while a breakdown may confirm short-term bearish momentum!
🔔 Stay tuned for further updates! #Bitcoin #BTC #CryptoAnalysis 🚀
📊 Bitcoin (BTC/USDT) Technical Analysis – 1H Chart 🚀
Bitcoin is currently trading within an ascending channel on the 1-hour timeframe, showing a structure of higher highs and higher lows.
🔹 Support Level: The price is testing the lower boundary of the channel (
$83,000). If this level holds, we could see a bounce towards the upper trendline.$84,500 - $85,000) remains a key resistance area.🔹 Resistance Level: The upper boundary of the channel (
🔹 Breakout Scenario:
A bullish breakout above the upper trendline could signal continuation towards $86,000+.
A bearish breakdown below the channel could bring a drop toward $82,000 - $81,500 support levels.
📈 Watch for a reaction at the current support level – a strong bounce could provide long opportunities, while a breakdown may confirm short-term bearish momentum!
🔔 Stay tuned for further updates! #Bitcoin #BTC #CryptoAnalysis 🚀