BTC/USDT 1H Chart Short-Term📉 Descending Channel (black lines)
The price previously moved within a clear descending channel, which was broken upward.
A breakout from the channel signals a change in the short-term trend – from supply pressure to an attempted rebound.
From a technical perspective, a breakout from a descending channel often leads to an upward correction, the extent of which is at least the midpoint of the previous downward impulse.
🔷 Triangle Formation (blue lines)
After breaking out of the channel, the price formed a symmetrical triangle (consolidation) – a sign of market indecision.
Triangles of this type are often trend continuation patterns, but in this context – after a breakout from a descending channel – an upward breakout (i.e., a further upward rebound) is more likely.
The key resistance level to watch is $111,145 – a breakout with volume confirmation would open the way to $112,320 and then $113,921.
🧭 Key Technical Levels
Resistance:
$111,145 – local resistance (upper boundary of the consolidation/triangle).
$112,320 – another strong resistance level from the previous local high.
$113,921 – major medium-term resistance.
Support:
$110,442 – lower boundary of the triangle (short-term support).
$108,793 – support after the recent bounce.
$107,285 – next demand level.
$104,969 – bulls' defensive boundary in the broader context.
📊 Stoch RSI (bottom of the chart)
The Stoch RSI oscillator is currently in a rebound phase from the neutral level (~40–60).
If the lines (blue and orange) cross upwards and enter the zone above 80, this could confirm bullish momentum and a breakout from the triangle to the upside.
However, a rejection from 60 and a further drop below 20 would signal a false breakout and a possible retest of USD 108,800.
🔎 Scenario Summary
➡️ Upside Scenario (more likely):
Breakout from the triangle to the upside (confirmed by a 1-hour candle above USD 111,150).
Potential move to USD 112,300 → USD 113,900.
Momentum indicators support a rebound if the Stoch RSI maintains its upward trend.
⬇️ Downside scenario (alternative):
Unsuccessful breakout and return below $110,400.
A correction to $108,800 can then be expected, and if this level is broken, a further decline to $107,300.
