BTCUSD 1H Technical Analysis
⚙️ Scenario Outlook:
Bias: Bearish
Preferred Play: Wait for price to enter the 119,000–120,000 supply zone. If price shows signs of exhaustion or bearish confirmation (e.g. bearish engulfing, strong rejection), a short position becomes favorable.
Targets: First target at 117,200; final target near 115,600–115,000 range, depending on how price behaves within the intermediate demand.
🔼 Supply Zone (Resistance):
Zone: 119,000–120,000
This red zone marks a previously unmitigated supply area aligned with the 50% Fibonacci retracement level from the prior bearish impulse. It's expected to act as the final resistance before the next move lower. A rejection from here would confirm bearish intent and offer optimal risk-to-reward for short setups.
🔽 Demand Zones (Support Targets):
First Demand Zone: 117,200–117,600
This green border is your first liquidity pocket to watch. It may offer a brief reaction or bounce, but if bearish momentum holds, price is likely to continue through it.
Deeper Demand Zone: 115,600–116,200
This is the stronger accumulation area, marked by your lower green zone. It sits just above the previous CHoCH and BOS lows, making it a prime liquidity sweep and reversal candidate if price moves deeply into it.
⚙️ Scenario Outlook:
Bias: Bearish
Preferred Play: Wait for price to enter the 119,000–120,000 supply zone. If price shows signs of exhaustion or bearish confirmation (e.g. bearish engulfing, strong rejection), a short position becomes favorable.
Targets: First target at 117,200; final target near 115,600–115,000 range, depending on how price behaves within the intermediate demand.
🔼 Supply Zone (Resistance):
Zone: 119,000–120,000
This red zone marks a previously unmitigated supply area aligned with the 50% Fibonacci retracement level from the prior bearish impulse. It's expected to act as the final resistance before the next move lower. A rejection from here would confirm bearish intent and offer optimal risk-to-reward for short setups.
🔽 Demand Zones (Support Targets):
First Demand Zone: 117,200–117,600
This green border is your first liquidity pocket to watch. It may offer a brief reaction or bounce, but if bearish momentum holds, price is likely to continue through it.
Deeper Demand Zone: 115,600–116,200
This is the stronger accumulation area, marked by your lower green zone. It sits just above the previous CHoCH and BOS lows, making it a prime liquidity sweep and reversal candidate if price moves deeply into it.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.