Posted March 18Mar 18 Bitcoin (BTC/USDT) Technical Analysis (2H Chart - Binance)1. Price Action & Market StructureThe chart displays Bitcoin’s price movement on a 2-hour timeframe.Current price: **$81,691Recent price range: **$81$81,500 (low) – $81,700 (high)The price is currently in a downtrend,lower highs and lower lows.A key support zone is highlighted$79,600 – $80,400, wstrong demand area.2. Key Support & Resistance LevelsSupport Zone (Demand Area): $79,600 – $80,400 (Highlighted Box)This zone has historically acted as a strong support, leadingIf the price holds above this area, a bounce toward resistance levels is likely.A breakdown below this zone may trigger further downside pressure.Immediate Resistance: $82,500 – $83,000Bitcoin has faced rejection multiple times in this region.A confirmed breakout above this zone could lead to a rally toward $85,000 – $87,000.Major Resistance Levels:$85,000 – $86,500 (Key$88,000 – $90,000 (3. Trend Analysis & Technical IndicatorsCandlestick Patterns:Recent candles show rejections at higher levels,selling pressure.A bullish engulfing candle near theTrend Direction:The short-term trend is bearish, but$79,600 – $80,400 support zoneLiquidity Zones:There is a possibility of a liquidity grab near the support area before a significant move.Potential Bearish Breakdown:If the price falls below $79,600, it could lead to further selling.Next support levels:$77,250 – $78,000$75,000 – $76,0004. Potential Scenarios & Trading StrategiesBullish Scenario (Bounce from Support)If Bitcoin respects the $79,600 – $80,400 zone, a bounce toward the $82,500 – $83,000 resistance is likely.A break and close above $83,000 could trigger a rally toward:$85,000 – $86,500$88,000 – $90,000 (strong psychological level)Bearish Scenario (Break Below Support)If Bitcoin breaks below $79,600, expect further downside.Next downside targets:$77,250 – $78,000 (first major support)$75,000 – $76,000 (stronger demand zone)Bearish confirmation:A high-volume breakdown below $79,600.Retest failure of support as resistance.5. Market Sentiment & ConclusionKey Level to Watch: $79,600 – $80,400 (support zone)Market Sentiment: Neutral to BearishTrading Strategy:Long Position: If price shows a bullish reaction near support.Short Position: If price breaks below $79,600 with strong volume.