🔍 Technical Breakdown:
Bitcoin is currently trading within a *bearish wedge pattern* on the 1H timeframe. Price action is compressing, indicating a potential breakout soon.
⚠ *Bearish Bias:*
If the rising support breaks down, we expect a move toward the *103,000–102,000 support zone*, which has previously acted as strong demand.
📉 *RSI* is trending lower, showing weakening momentum.
📉 *MACD* crossover favors sellers (if applicable).
📌 Watch for reaction in the *reversal zone* to assess bounce or continuation.
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📊 *Key Levels:*
- Resistance: 108,800 – 109,200
- Support Zone: 103,000 – 102,000
- Reversal Area: 102,000 – 101,800
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📌 *Trade Plan:*
- Bearish bias below wedge
- Neutral bias inside wedge
- Bullish if price breaks and holds above wedge top
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💬 Let me know your thoughts below.
🔁 Like, Comment & Follow for more clean setups!
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📍This is for educational purposes only. Not financial advice.
Bitcoin is currently trading within a *bearish wedge pattern* on the 1H timeframe. Price action is compressing, indicating a potential breakout soon.
⚠ *Bearish Bias:*
If the rising support breaks down, we expect a move toward the *103,000–102,000 support zone*, which has previously acted as strong demand.
📉 *RSI* is trending lower, showing weakening momentum.
📉 *MACD* crossover favors sellers (if applicable).
📌 Watch for reaction in the *reversal zone* to assess bounce or continuation.
---
📊 *Key Levels:*
- Resistance: 108,800 – 109,200
- Support Zone: 103,000 – 102,000
- Reversal Area: 102,000 – 101,800
---
📌 *Trade Plan:*
- Bearish bias below wedge
- Neutral bias inside wedge
- Bullish if price breaks and holds above wedge top
---
💬 Let me know your thoughts below.
🔁 Like, Comment & Follow for more clean setups!
---
📍This is for educational purposes only. Not financial advice.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.
FX|GOLD|CRYPTO| Clean Charts, Sniper Signals & Smart Risk Management. Telegram t.me/smarttrading072
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.