"Bitcoin (BTC/USD) Price Analysis: Key Support Test & Potential

This chart is a Bitcoin (BTC/USD) price analysis on a 1-hour timeframe from TradingView. Here are the key insights:

Technical Indicators:
Exponential Moving Averages (EMAs):

200 EMA (blue): 85,984 (indicates long-term trend support/resistance).

30 EMA (red): 85,705 (short-term trend direction).

Support & Resistance Zones:
Purple Zone (Support Area): This area has been tested multiple times and is expected to provide a strong buying zone.

Resistance/Target Levels:

Upper EA Target Point: 88,366 (potential bullish target).

Lower EA Target Point: 79,819 (potential bearish target).

Trade Setup:
Entry Point: Around 83,810 (current price near support).

Stop Loss Levels:

Conservative: Around 83,750

Aggressive: Around 83,184

Target Point: 88,366 (bullish) or 79,819 (bearish).

Market Outlook:
The price is currently testing a key support zone.

If the support holds, we may see a bullish reversal toward 88,366.

If the price breaks below the support, further downside to 79,819 is possible.