Btcusd techinical analysis.

The chart shows a BTC/USD (Bitcoin vs. US Dollar) technical analysis on the 1-hour timeframe. Here's a detailed breakdown:

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🔍 Chart Elements & Interpretation:

1. Trend Lines:

Upper Pink Trend Line: Acts as a resistance from a previous high.

Lower Pink Trend Line: Represents a support line from the recent upward trend.

Blue Channel: Shows a rising wedge or ascending channel (often a bearish reversal pattern).

2. O.B (Order Blocks):

Upper O.B Zone (~120,000–121,000): Potential supply zone or area of resistance.

Lower O.B Zone (~117,500–118,500): Possible demand zone or support.

3. Price Projection:

A measured move of 2,585.6 points (2.18%) is marked upward from the current breakout attempt.

4. Current Price:

BTC is trading at $119,771.8, with a +0.90% increase at the time of this chart.

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🧠 Technical Outlook:

Bullish Case:

Breakout above the upper trend line and clearing the upper O.B could lead to a continuation toward 122,000+.

If BTC respects the demand zone and bounces, the uptrend may resume.

Bearish Case:

Failure to break above resistance or rejection at

Rickypher

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Rickypher

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