Here is an in-depth analysis of the BTC currency on the 1-hour (1H) timeframe now#BTC110KToday?
According to Binance's analysis, the chart shows a clear bullish arrangement on the 1H timeframe, with the price touching the upper limit of the Bollinger Bands, which is positive, but accompanied by overbought conditions and divergence, indicating a potential correction near the EMA9/21 levels.
The FixioMarkets network indicates that the price is testing the pivot area at 105,500–106,000 USD, supported by the 20EMA and 200SMA, and it is mentioned that a positive MACD is near and ADX convergence at ~30, reflecting trend strength and the likelihood of a bullish breakout.
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🔍 Key support and resistance levels
Area Details
Resistance 106,500 – 107,210 USD: Above here could open the way towards 108,500 then 110,000 USD.
Support Between 105,500 – 104,500 USD: EMA9/21 levels on the 1H timeframe, forming a good buying point on the dip.
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🧭 Possible scenarios
Bullish scenario
Clear breakout above 107,210 USD on the 1H timeframe with strong trading volume could push the price towards 108,500–110,000 USD.
Indicators like MACD, ADX, and EMA allow for continued momentum as long as the main support is not broken.
Correction scenario
If the price retraces downwards, it is expected to head towards 105,500–105,400 USD (EMA9/21). A break below 104,500–104,000 USD could open the way towards testing other levels near 102,700 USD (pivot/daily EMA).
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🧠 Trading strategy
1. Buy on a pullback: If we see a correction towards 106,000–105,500 USD, it is advisable to enter with a quality stop loss at 105,500 USD.
2. Clear breakout: Entering upon prices breaking above 107,210 USD, first target 108,500 USD then 110,000 USD, with a stop loss of 107,000 USD or lower.
3. Risk management: Use a trailing stop loss and adjust according to resistance size, and avoid entering on weak momentum or in extreme overbought conditions without volume.
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✅ Quick Overview
Overall trend: Bullish on the 1-hour and 4-hour timeframes as well as the higher timeframe (D, W).
Critical crossover point: 105,500–106,000 USD for entering on correction, and 107,210–107,500 USD for breakout.
Short-term correction potential: Expected due to overbought conditions, but the trend remains supportive of upward movement as long as the strong support mentioned is not broken.
⚠️ What to watch: Focus on:
The trading volume accompanying any breakout.
MACD behavior at resistance 107,210 USD.
Reports from the US Federal Reserve (FOMC) or statements from “Powell” could cause significant volatility for the economy and markets.