Hey Everyone! ๐
Today, I want to walk you through the current state of Bitcoin (BTC) against the US Dollar (USD) โ and what you should watch in the days ahead.
Let's break it down together in a simple, clear, and actionable way!
๐ Whatโs Currently Happening?
If youโre looking at the 1-hour BTC/USD chart, youโll see weโre currently in a strong bearish trajectory.
The price is sitting below the Ichimoku Cloud โ a clear sign weโre in a downtrend.
This confirms the bears are currently in control.
๐ป Our Key Observations ๐ป
โ The price is trading below the Ichimoku Cloud โ adding weight to the bearish outlook.
โ Weโve already gotten a resistance retest โ which further signals weakness.
โ The price action shows a clear break in structure โ implying we might move lower.
โ Weโve marked two horizontal target zones with a sharp projected drop (red path) and a blue arrow for emphasis.
๐ฏ Whereโs The Market Heading?
Lets talk about the two main target levels you should watch:
First Target (~$104,000)
This is your immediate bearish target โ it's a strong area of minor historical support.
Watch for a reaction here โ we might see a small bouncing or some volatility.
Final Target (~$100,000โ$101,000)
This is the extended bearish target โ marked boldly on the chart with a strong arrow.
Itโs a psychological level where liquidity may pile up, adding additional pressure.
If \$104,000 breaks, weโre likely to see a move toward \$100,000โ\$101,000.
๐น Conclusion ๐น
For now, the bears remain in control until we see a close above \$108,500 โ which would invalidate this view.
If \$104,000 falls, \$100,000โ\$101,000 is the most realistic follow-up.
So make sure you keep a close watch on these key levels!
โก Disclaimer โก
This is not financial advice โ just my view on the market.
Always do your own research (DYOR) before making ANY trades or financial decisions.
Stay vigilant, stay realistic, and manage your risk!
โจ If you liked this article, please like, share, and follow for more market updates!
โ Happy trading, and Iโm rooting for your profits! ๐โจ
