1-hour chart analysis for Bitcoin/TetherUS Perpetual (BTCUSDT.P)
Bullish Scenario: If the $79,500 area holds without strong candle closes below it, a retest of the local highs at $82,000 and eventually $84,500 is likely.
Strategy: Look for a "Sweep and Reclaim" or a bullish engulfing candle within the reversal area before entering. Always follow the 1% risk management rule for capital
Structure: After a strong rally from roughly $78,000, Bitcoin encountered heavy resistance near the $82,800 local high. The subsequent "Curve Line" (arch-like pattern) represents a cooling phase into the current support zone.
Resistance: The primary hurdle remains the $82,200 – $85,300 zone. A decisive 1-hour close above $80,850 would signal a reclaim of the stair-step bullish structure.
Support (Reversal Area): The current gray box near $79,500 acts as a "demand zone" where buyers have previously stepped in.
Strategy: Look for a "Sweep and Reclaim" or a bullish engulfing candle within the reversal area before entering. Always follow the 1% risk management rule for capital
Structure: After a strong rally from roughly $78,000, Bitcoin encountered heavy resistance near the $82,800 local high. The subsequent "Curve Line" (arch-like pattern) represents a cooling phase into the current support zone.
Resistance: The primary hurdle remains the $82,200 – $85,300 zone. A decisive 1-hour close above $80,850 would signal a reclaim of the stair-step bullish structure.
Support (Reversal Area): The current gray box near $79,500 acts as a "demand zone" where buyers have previously stepped in.
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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.
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.