Bitcoin Analysis | 1-Hour Timeframe
Currently, Bitcoin is positioned at a key support level around $108,380, which can act as an important support zone.
Due to the presence of divergence and overbought conditions on the 1-hour and 15-minute timeframes near $108,000, a price correction down to $104,400 (which coincides with the 50% Fibonacci retracement of the recent move) is expected.
If the price manages to break above the resistance at $108,380, we anticipate a bullish move towards the $109,500 level.
Conversely, a breakdown below the $108,380 support could lead to a deeper correction, potentially down to $105,000.
Good luck.
Risk management and sticking to your strategy are key to success in this volatile market.
Currently, Bitcoin is positioned at a key support level around $108,380, which can act as an important support zone.
Due to the presence of divergence and overbought conditions on the 1-hour and 15-minute timeframes near $108,000, a price correction down to $104,400 (which coincides with the 50% Fibonacci retracement of the recent move) is expected.
If the price manages to break above the resistance at $108,380, we anticipate a bullish move towards the $109,500 level.
Conversely, a breakdown below the $108,380 support could lead to a deeper correction, potentially down to $105,000.
Good luck.
Risk management and sticking to your strategy are key to success in this volatile market.
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.
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.