Bitcoin (BTC/USDT) Technical Analysis (2H Chart - Binance)

Bitcoin (BTC/USDT) Technical Analysis (2H Chart - Binance)

This chart presents a Bitcoin price analysis within a falling wedge pattern. The technical breakdown suggests two potential scenarios: a rejection and drop or a breakout after a retracement. Below is a detailed analysis:

1️⃣ Chart Structure & Trendlines

• Descending Channel (Falling Wedge Formation)

  • Bitcoin is moving within a downward-sloping channel, indicated by two black trendlines.

  • This pattern is generally bullish when a breakout occurs, but for now, BTC remains inside the structure.

• Resistance & Support Levels

  • Resistance (~83,700 - 84,000 USDT)

    • BTC is currently approaching the upper boundary of the descending channel.

    • The highlighted resistance box suggests a strong rejection zone.

  • Support (~78,000 - 80,000 USDT)

    • There is a key demand zone around 78,000 USDT, where BTC has bounced previously.

    • A further drop could push the price to 72,000 USDT, aligning with the lower channel support.

2️⃣ Bearish Scenario (Rejection & Drop)

• If BTC fails to break the resistance, a rejection may cause:

  • Initial drop to ~80,000 USDT (first support)

  • Further decline to 78,000 USDT, possibly testing the lower trendline

  • If selling pressure increases, BTC could touch 72,000 USDT before rebounding.

• The black arrows indicate the potential path of BTC towards lower supports.

3️⃣ Bullish Scenario (Breakout & Recovery)

• If BTC breaks above the resistance (~84,000 USDT):

  • A retest of 86,000 - 88,000 USDT could follow.

  • A full breakout from the wedge could push BTC beyond 92,000 USDT.

• However, the chart suggests BTC might first retest lower levels before a bullish move.

4️⃣ Market Sentiment & Key Levels to Watch

📌 Resistance:

• 84,000 USDT (critical breakout point)

• 86,000 - 88,000 USDT (bullish confirmation)

📌 Support:

• 80,000 USDT (short-term support)

• 78,000 USDT (key zone)

• 72,000 USDT (major demand zone)

Conclusion & Strategy

✅ If BTC breaks 84,000 USDT → Bullish Continuation
❌ If rejected → Bearish move toward 78,000-72,000 USDT

Currently, Bitcoin is at a decision point near the resistance. Traders should wait for confirmation before making moves.

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