$BTC $BTC
BTC
96,449.49
+2.2%
$ETH
ETH
1,829.31
+1.54%
$XRP
XRP
2.1445
+1.31%
Bitcoin in the 1-hour time frame is showing a bearish reversal pattern after testing a strong resistance zone around 97800 where price faced rejection and formed a short opportunity near 96800 with clear downside targets identified as 94800 and 93400 respectively the chart reveals that Bitcoin had previously been in a descending wedge pattern which it broke to the upside leading to a sharp bullish rally however this rally was quickly halted at the top resistance zone marked by multiple failed breakouts suggesting strong selling pressure from that area this rejection aligns with a technical confluence where horizontal resistance meets previous price action highs indicated by the orange zone the entry for sell was suggested immediately after the reversal signal at resistance while the downside targets suggest a correction phase in the market momentum the structure also highlights historical bounce zones shown by green arrows which served as strong support in the past but current market conditions imply that price might revisit these zones for a potential retest as support levels again fundamentally this move comes amid broader market caution and uncertainty around macroeconomic factors and crypto regulation updates making short-term bearish plays more favorable for traders the bearish projection further gains confidence as the price structure shifts from lower highs and lower lows before the breakout and the failure to hold above resistance strengthens the bearish case this analysis represents a short-term corrective outlook for Bitcoin traders and investors should watch the key support levels and manage risk accordingly as the volatility continues to shape near-term direction
