#BTCRebound Bitcoin (BTC) 1-Hour Chart Trade Setup

The BTC/USDT 1-hour chart showcases a mix of bullish and bearish elements, with a clear Double Bottom pattern and key trendline levels shaping potential trading opportunities. Here’s a comprehensive analysis:

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Trend Analysis:

• Downtrend: Resistance at $84,383.1, with a strong trendline strength of 3.18 and a shallow angle of 6°. This resistance level acts as a critical barrier for further upside movement.

• Uptrend: Support at $81,750, with a trendline strength of 3.28 and a steep angle of 35°. This level is supporting bullish momentum.

• Higher Timeframes: Uptrend remains dominant on 50-150 bars, with angles between +10° and +32°, suggesting overall bullish momentum. The 200-bar trend is neutral at -4°.

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Pattern Analysis:

• Double Bottom (Blue): This classic reversal pattern signals bullish continuation if the neckline at $83,585 is broken decisively. Targets from the pattern breakout could push prices toward the $85,000-$86,000 zone.

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Key Levels:

• Resistance: $84,383.1, a key level to watch for rejection or breakout.

• Support: $81,750, providing a strong base for bullish moves. A breakdown could shift momentum back to bearish.

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Trade Setup:

1. Long Setup:

• Entry: Upon breakout above $84,000.

• Target: $85,500-$86,000.

• Stop-Loss: Below $83,000.

2. Short Setup:

• Entry: Near rejection at $84,383.1.

• Target: $81,750.

• Stop-Loss: Above $84,500.

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Conclusion:

BTC’s 1-hour chart suggests a pivotal moment. The breakout or rejection at the $84,383 resistance will likely dictate the next major move. Traders should remain cautious and wait for confirmation signals before entering trades.

Trade smart and manage your risk effectively!$BTC