BTCUSD CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This is a Bitcoin (BTC/USD) price chart on a 1-hour timeframe from TradingView. Here's what it represents:

1. Previous Price Action:

A strong uptrend is indicated by the blue trendline, which was followed by a peak (highlighted with a red arrow and circle).

After reaching this peak, BTC experienced a sharp drop, forming a bearish move.



2. Key Support & Resistance:

A red zone (highlighted) indicates a support area where price previously reacted.

BTC is currently testing this zone, which suggests a potential bounce.



3. Forecast & Trade Setup:

The black zigzag line represents a potential bullish reversal scenario.

The trader anticipates BTC will rebound from the support zone and move towards the 99,154 target (green box).

Stop-loss levels are set around 96,824 – 96,483, ensuring risk management.




This chart suggests a long (buy) setup, expecting a price recovery towards 99,154 while protecting against downside risk.