BitcoinShort
The BTC/USD trend on the 1H chart is bearish, with a critical tu
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H1 Chart Story
1. Bearish Momentum: The current trend shows sellers dominating, with price likely forming lower highs and lower lows on the 1H timeframe. This indicates sustained downside pressure.
2. Turning Point - 96.121:
Below 96.121: If BTC/USD stays below this level, it may confirm the continuation of the bearish trend, with further declines anticipated.
Above 96.121: A move above this level might suggest a potential pause or reversal of the bearish momentum, possibly triggering a retracement toward key resistance levels.
3. Key Levels:
Resistance: Immediate resistance could be at 98.000 or higher if the price breaks above the turning point.
Support: Watch for further downside targets near 94.000 or 92.000, depending on bearish momentum.
4. Indicators to Monitor:
RSI: Check if the RSI is oversold, which might indicate potential relief rallies.
MACD: Watch for bearish crossovers or signs of weakening momentum.
Moving Averages: If shorter-term MAs (e.g., 20, 50) are trending below longer-term MAs (e.g., 100), it reinforces the bearish trend.
5. Patterns:
Bearish Continuation: Patterns like descending triangles or bear flags could validate further downside.
Breakout Signs: A strong close above the turning point may signal a shift toward a neutral or bullish phase.
H1 Chart Story
1. Bearish Momentum: The current trend shows sellers dominating, with price likely forming lower highs and lower lows on the 1H timeframe. This indicates sustained downside pressure.
2. Turning Point - 96.121:
Below 96.121: If BTC/USD stays below this level, it may confirm the continuation of the bearish trend, with further declines anticipated.
Above 96.121: A move above this level might suggest a potential pause or reversal of the bearish momentum, possibly triggering a retracement toward key resistance levels.
3. Key Levels:
Resistance: Immediate resistance could be at 98.000 or higher if the price breaks above the turning point.
Support: Watch for further downside targets near 94.000 or 92.000, depending on bearish momentum.
4. Indicators to Monitor:
RSI: Check if the RSI is oversold, which might indicate potential relief rallies.
MACD: Watch for bearish crossovers or signs of weakening momentum.
Moving Averages: If shorter-term MAs (e.g., 20, 50) are trending below longer-term MAs (e.g., 100), it reinforces the bearish trend.
5. Patterns:
Bearish Continuation: Patterns like descending triangles or bear flags could validate further downside.
Breakout Signs: A strong close above the turning point may signal a shift toward a neutral or bullish phase.
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