Structure & Key Levels
The 1-hour chart of BTCUSD shows a clear bullish bias after a corrective pullback, with price currently retesting the confluence of the ascending trendline and horizontal support at 80000. This is a critical zone for the continuation of the uptrend.
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Key Support & Resistance
Resistance 83000: The primary upside target, a key supply zone that, if broken, will open further bullish momentum.
Near-term Support 80000: Horizontal support confluent with the ascending trendline, acting as the immediate bullish pivot.
Strong Support 79000: The invalidation level for the current bullish structure. A break below this zone would trigger a deeper correction.
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Trade Scenarios
1. Bullish Continuation (Primary Bias)
Trigger: Price holds above the 80000 support zone and the ascending trendline.
Targets: Initial move towards 83000 resistance, with further upside potential upon a confirmed breakout.
The 1-hour chart of BTCUSD shows a clear bullish bias after a corrective pullback, with price currently retesting the confluence of the ascending trendline and horizontal support at 80000. This is a critical zone for the continuation of the uptrend.
---
Key Support & Resistance
Resistance 83000: The primary upside target, a key supply zone that, if broken, will open further bullish momentum.
Near-term Support 80000: Horizontal support confluent with the ascending trendline, acting as the immediate bullish pivot.
Strong Support 79000: The invalidation level for the current bullish structure. A break below this zone would trigger a deeper correction.
---
Trade Scenarios
1. Bullish Continuation (Primary Bias)
Trigger: Price holds above the 80000 support zone and the ascending trendline.
Targets: Initial move towards 83000 resistance, with further upside potential upon a confirmed breakout.
Trade active
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.