BTCUSD Short-Term Analysis for 09/11/2024

Disclaimer: This is my personal opinion and is intended for educational purposes only. Please consult your financial advisor before making any decisions.

Time Frame: 1-hour

Market Analysis:
The 1-hour BTCUSD chart exhibits a weakening bullish trend with the Relative Strength Index (RSI) relecting bearish divergence and volume decreasing.

Key Levels to watch:
Support: 75682.00


Trading Bias:
Following up on our previous analysis,the BTCUSD price continues to consolidate within a rising wedge pattern on the 1-hour chart, indicating a potential reversal. If neckline at 75682.00 breached, the probability of an downtrend increased and the price could dip to 72710 - 71623

https://www.tradingview.com/x/txCjLEG0/