💹 $BTC USD | 1H Technical Outlook – Oversold Bounce in Play?
📉 Current Price: ~$102,555
🔻 Down ~1.26% | Timeframe: 1-Hour (BITSTAMP)
🔍 Key Observations:
1️⃣ Recent Decline
BTC just experienced a sharp intraday drop (~2.37%), reaching oversold levels near $101,661.
2️⃣ Potential Rebound Target
Chart suggests a short-term recovery with a target around $103,000 — a key resistance zone to watch.
3️⃣ Pattern Insight
The zigzag arrow on the chart hints at a bullish correction setup — typical of rebound moves after steep pullbacks.
4️⃣ Bollinger Bands
Price has moved significantly below the lower band, often signaling oversold conditions and possible mean reversion.
5️⃣ Support & Resistance
⚠️ Resistance Zone: ~$103,000
✅ Support Zone: Around the current local lows (~$101,000)
These zones are critical for short-term trade setups.
🧠 Trade Idea:
A bounce play could be viable if BTC confirms support and reclaims $102,600+ with volume.
📌 Tight stops are essential below local lows to manage risk.
