BTCUSD CHART TECHNICAL ANALYSIS FRESH NEXT MOVE POSSIBLE

This is a Bitcoin (BTC/USD) 1-hour chart from TradingView with a technical analysis setup. Here’s what it means:

1. Resistance Zone (Yellow Box): The highlighted yellow area around $98,000 suggests a resistance level where selling pressure could increase.


2. Short Trade Setup:

Entry Zone: Around $96,900 - $97,500.

Stop Loss: Placed near $97,816 (red box), which indicates the point where the trade will be closed if the price moves against the position.

Take Profit Levels: Two targets are visible at $95,549 and $94,970.



3. Market Structure:

The black zig-zag line shows a potential rejection at resistance, followed by a downward move.

The red area represents the risk zone (stop loss), while the green area represents the potential profit zone (take profit).




In summary, this analysis predicts that BTC/USD will face resistance near $97,500 and move lower toward $95,500 or $94,970. It is a bearish setup with a risk-to-reward strategy in place.