$BTC

The chart shows a BTC/USD (Bitcoin vs. US Dollar) technical analysis on the 1-hour timeframe. Here's a detailed breakdown:


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šŸ” Chart Elements & Interpretation:

1. Trend Lines:

Upper Pink Trend Line: Acts as a resistance from a previous high.

Lower Pink Trend Line: Represents a support line from the recent upward trend.

Blue Channel: Shows a rising wedge or ascending channel (often a bearish reversal pattern).


2. O.B (Order Blocks):

Upper O.B Zone (~120,000ā€“121,000): Potential supply zone or area of resistance.

Lower O.B Zone (~117,500ā€“118,500): Possible demand zone or support.


3. Price Projection:

A measured move of 2,585.6 points (2.18%) is marked upward from the current breakout attempt.


4. Current Price:

BTC is trading at $119,771.8, with a +0.90% increase at the time of this chart.



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šŸ§  Technical Outlook:

Bullish Case:

Breakout above the upper trend line and clearing the upper O.B could lead to a continuation toward 122,000+.

If BTC respects the demand zone and bounces, the uptrend may resume.


Bearish Case:

Failure to break above resistance or rejection at

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