BTCUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE .

This chart represents Bitcoin (BTC/USDT) on a 1-hour timeframe from Binance, showing a technical setup for a possible short trade (sell position). Here’s what it indicates:

1. Double Top or Bearish Reversal Setup:

The price has reached a key resistance level at 97,520 USDT (black horizontal line).

The Zig Zag indicator (blue lines) highlights recent swing highs and lows, forming a potential M-shape pattern, often a bearish signal.



2. Short Trade Plan:

Entry Zone: Near 97,520 USDT (price has tested this level).

Target (Take Profit): Around 93,865 USDT (green zone).

Stop Loss: Above 98,816 USDT (red zone), protecting against an upside breakout.



3. Bearish Scenario:

The blue arrow suggests an expected downward move.

If price breaks below recent swing lows, further decline is likely.



4. Bullish Risk:

If BTC breaks above 98,816 USDT, the short setup would be invalidated.




This chart suggests a trader is betting on a Bitcoin pullback after testing resistance. Would you like to refine the trade setup or need additional confirmation signals?