This chart shows a technical analysis of Bitcoin (BTC) / TetherUS (USDT) on a 1-hour timeframe from Binance, published on July 19, 2025.
Key Details:
Price at the time of chart: ~118,316 USDT
Bearish setup with a descending channel pattern highlighted in cyan.
Entry Level: 118,300 USDT (Short position)
Target: 115,700 USDT
Resistance zone: ~121,050 USDT
Support zone: ~115,716 USDT
Analysis Summary:
The chart suggests a potential short trade with a bearish breakout from the descending channel.
If price breaks below the channel support, the suggested move is short from 118,300 to 115,700, indicating a ~2.2% downside.
The target (115,700) aligns with a previous support zone from earlier in the chart, adding confluence.
The 121,050 level represents strong resistance from a previous high.
Interpretation:
This is a classic bear flag pattern forming after a significant down move from the recent peak. The trader expects a continuation to the downside once the pattern resolves.
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