This chart is a technical analysis of Bitcoin (BTC/USD) on a 1-hour timeframe. Here's a breakdown of the key elements shown:
1. Resistance Zone (Top Purple Band):
Price has repeatedly touched or tested this level and failed to break through, as shown by the red arrows.
This suggests a strong resistance level around the 106,000–107,000 USD range
1. Resistance Zone (Top Purple Band):
Price has repeatedly touched or tested this level and failed to break through, as shown by the red arrows.
This suggests a strong resistance level around the 106,000–107,000 USD range
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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.