This Bitcoin (BTC/USD) 1-hour chart from TradingView illustrates a bearish harmonic pattern, likely a Gartley or Bat pattern, forming at resistance near $87,995. The chart shows key Fibonacci levels, a harmonic structure (XABCD), and a potential price reversal from point D. Price is expected to decline towards the marked support zone around $86,300. Additionally, the Overextension Oscillator suggests a potential overbought condition, aligning with the projected bearish move. The Supertrend indicator also indicates resistance at higher levels.
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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.