🚨 Bitcoin (BTC/USD) Technical Analysis – 1H Chart 🚨
Bitcoin is currently trading around $113,440, showing signs of rejection near the 38.2% Fibonacci retracement after a recent bounce from the channel’s lower boundary.
📉 Trend Outlook:
The pair remains inside a descending channel, indicating the bearish momentum is still dominant.
Price attempted to recover but got rejected below the 61.8% retracement zone, showing strong selling pressure.
📌 Key Levels to Watch:
Resistance: $113,826 (major supply zone)
Immediate Support: $113,419 (short-term structure)
Target Supports:
$112,988
$112,100
$111,034
⚡ Trading View:
As long as BTC stays under $113,800 resistance, the downside targets remain open. Breaking below $113,419 could accelerate selling pressure towards $112k levels. Bulls need a decisive break above $113,800 to reverse momentum.
✅ Summary:
Trend → Bearish (within a falling channel)
Bias → Sell rallies below $113,800
Potential Targets → $112,988 – $111,034
#Bitcoin #BTC #CryptoTrading #CryptoAnalysis #BTCUSD #CryptoCharts #Fibonacci #PriceAction #CryptoBearish #BTCAnalysis
Bitcoin is currently trading around $113,440, showing signs of rejection near the 38.2% Fibonacci retracement after a recent bounce from the channel’s lower boundary.
📉 Trend Outlook:
The pair remains inside a descending channel, indicating the bearish momentum is still dominant.
Price attempted to recover but got rejected below the 61.8% retracement zone, showing strong selling pressure.
📌 Key Levels to Watch:
Resistance: $113,826 (major supply zone)
Immediate Support: $113,419 (short-term structure)
Target Supports:
$112,988
$112,100
$111,034
⚡ Trading View:
As long as BTC stays under $113,800 resistance, the downside targets remain open. Breaking below $113,419 could accelerate selling pressure towards $112k levels. Bulls need a decisive break above $113,800 to reverse momentum.
✅ Summary:
Trend → Bearish (within a falling channel)
Bias → Sell rallies below $113,800
Potential Targets → $112,988 – $111,034
#Bitcoin #BTC #CryptoTrading #CryptoAnalysis #BTCUSD #CryptoCharts #Fibonacci #PriceAction #CryptoBearish #BTCAnalysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.