📉 Bitcoin (BTC/USD) Technical Analysis – 1H Chart
Currently, BTC is trading around $104,893, down 0.51% in the last session. Here's a breakdown of the technical outlook:
🔻 Bearish Bias Short-Term:
Price recently rejected resistance around $106,500–$107,000 (highlighted red zone), forming a lower high.
BTC is currently struggling to break above the $105,000–$105,200 supply zone.
A bearish candlestick pattern has formed just below this resistance, indicating sellers are still in control.
Next key support lies at $104,074, and if broken, we could see further downside toward $103,500.
📊 Renko Weis Wave Volume shows decreasing green bars, indicating weakening buying momentum.
✅ Bullish Scenario (If support holds):
If BTC holds above $104,074, a bounce back toward the $106,000–$107,000 region is possible.
Watch for a clean break and retest of $105,200 for confirmation of bullish continuation.
🔄 Bias: Bearish, unless BTC reclaims and holds above $105,200 with strong volume.
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