$BTC 📉 BTC Analysis (1-Hour Chart)
💰 Price: $118,580.15
📊 Indicator: Potential Breakdown Alert!
As you can see in the chart, BTC has formed a descending triangle pattern, which is typically considered a bearish continuation pattern.
🔻 Resistance zone: Around $119,686
🟩 Support zone: Around $115,800
If the price breaks below this support level, a further downward move in BTC is expected.
Technical Indicators:
📉 RSI (14): 57.66 – Currently in the neutral zone, slightly below overbought.
🟣 MACD: A bullish crossover has occurred, but there's a potential divergence warning.
📊 EMA (7, 30, 200): Price is struggling to stay above key EMAs, showing indecision in momentum.
🛑 Trade Idea:
If BTC breaks below the support zone, a short position could be considered, with a stop loss just above the triangle resistance.
🔔 Note: Always manage your risk. This analysis is for educational purposes only.
