BTC/USDT – 1H Analysis
Price has broken out of the descending trendline after forming a series of lower highs (LH) and lower lows (LL). The breakout was followed by strong bullish momentum, pushing price into the long trade zone.
• Breakout Confirmation: Price retested the breakout zone before continuing upward.
• Current Price Action: After reaching a local high near 122,800, BTC is in a minor pullback, retesting support around 118,150 – 118,190.
• Key Supports: 117,340 · 115,980 · 115,238 · 114,658
• Key Resistance: 119,848 · 122,326
• Bias: Bullish above 118,150; deeper correction possible if support fails, targeting 117,340 and lower white zone.
Price has broken out of the descending trendline after forming a series of lower highs (LH) and lower lows (LL). The breakout was followed by strong bullish momentum, pushing price into the long trade zone.
• Breakout Confirmation: Price retested the breakout zone before continuing upward.
• Current Price Action: After reaching a local high near 122,800, BTC is in a minor pullback, retesting support around 118,150 – 118,190.
• Key Supports: 117,340 · 115,980 · 115,238 · 114,658
• Key Resistance: 119,848 · 122,326
• Bias: Bullish above 118,150; deeper correction possible if support fails, targeting 117,340 and lower white zone.
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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.