My Best analysis BTC/USD Analysis: Potential Breakout Setup
Timeframe: 1H
The BTC/USD pair is currently consolidating within a key price range. The chart highlights:
Resistance Zone: The area around 94,000–94,500 is acting as resistance, where multiple rejections have occurred.
Support Zone: Strong support is observed between 93,000–93,500, providing a base for potential upward momentum.
Projection:
A bullish breakout is anticipated after a minor retracement within the support zone. A successful breakout above the resistance area could target levels of 98,000–100,000.
Strategy:
Wait for confirmation of breakout above 94,500 with strong volume.
Place stops below the 93,000 support zone to manage risk.
Monitor key levels for invalidation of the bullish setup.
This setup is based on current market structure and price action. Adjust risk accordingly, and always use proper risk management.