Chart Analysis: $BTC /USDT – 1H Timeframe (Binance)
Current Price: 105,892.35
24h High/Low:108,891.91 / 105,639.30
Change: -1.16
Volume: Rising near recent candles (shows active participation)
Technical Breakdown:
1. Trend:
Currently in a short-term downtrend, with clear lower highs and lower lows. Price is struggling below106,970 resistance.
2. Support Zone:
105,639 is the recent local support. Price bounced from this area, showing temporary buyer interest.
3. Resistance Levels:
- Immediate resistance: 106,219 – 106,970
- Stronger resistance above: 107,721 – 108,472
4. Candlestick Structure:
- A bullish green candle has formed after multiple strong red candles, indicating a possible relief bounce.
- But volume is not strong enough yet to confirm a reversal.
5. Moving Averages (MA):
- MA(5) and MA(10) are sloping downward, indicating bearish pressure is still active.
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Trade Plan (Short-Term):
Scenario 1: Conservative Long Entry (if bounce continues)
- Entry: Above106,220 (after a strong bullish candle with volume)
- Target: 106,970 →107,700
- SL: Below 105,600
Scenario 2: Aggressive Long Entry (now)
- Entry: Around105,850 – 105,900
- Target:106,500 → 106,970
- SL:105,450
Note:
- Wait for confirmation with strong green candle + higher volume before big entries.
- If it breaks 105,639 again, expect drop toward104,800 – 104,000.
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Bias: Neutral to slightly Bearish unless price reclaims107K+ with strength.
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