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$BTC 1H Chart Analysis, what is next?

📊 1H Chart Analysis

Things are not as simple as some analysts claim — the situation remains delicate.

🔑 Key Resistance Levels:
Double Resistance in Play:
- Descending Bearish Channel on the weekly timeframe.
- Previous Resistance from the March 20th pump.

🏗️ Current Market Structure:
Horizontal Consolidation Pattern:
- Top Resistance: $87.5K — potential rejection point.
- Bottom Support: $34.3K — previously a resistance, now acting as support.

📉 Possible Scenarios:
Bearish Scenario:
- Rejection at $87.5K could lead to support at: $34.3K (Green horizontal support).
- $33.5K (Red ascending pattern bottom).

Bullish Invalidation: Break and hold above $91K would invalidate the bearish downtrend.
If successful, we likely avoid retesting $80K.

📅 Conclusion:
Until breaks $91K, we remain in a bearish downtrend, despite the short-term daily uptrend.
The weekly timeframe suggests we could still reverse and go lower if $90K holds as resistance.

#Bitcoin #Crypto #MarketAnalysis #BTC #Trading #CryptoNews

DYOR

Trade active

This pump will need to consolidate, it might go down quickly.
Do not forget to take your profits, or you will be temporary rich ;)
did +11% that is pretty decent, most other altcoins are at +5-+8%

The chart is overbought, with a MACD crossover to the downside on 1H

Note

might still have a final push to %89k before slowing down or being rejected tho. chose the bullish scenario for now. Let monitor how it reacts when reaching the main resistances.

Trade closed: target reached

Another accurate chart that ended up working as expected, follow me for more, and check my newest published ideas.

CryptoNikkoid

Telegram: t.me/cryptonikkoid

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CryptoNikkoid

Telegram: t.me/cryptonikkoid

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