Bitcoin Bearish Flag Formation Below Resistance – $101K Target

Technical analysis for BTC/USD 1-hour chart you provided:


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BTC/USD Analysis – Bearish Flag Breakdown Below Resistance

🔍 Overview:

Bitcoin is trading around $105,317, near a major resistance zone between $106,000–$107,000, where price has previously been rejected (marked by red arrows).

The current upward movement appears to be a bearish flag/channel, typically a continuation pattern within a larger downtrend.


📉 Market Structure & Projection:

The chart anticipates rejection from the resistance area and a breakdown of the flag, with the price targeting the key support level at $101,027.

If confirmed, this would signal a resumption of bearish momentum after the temporary pullback.


📊 Indicators:

EMA 50 (Red) is below EMA 200 (Blue), suggesting a bearish trend bias.

RSI (14) is at 47.33—below the 50 line, showing weak bullish strength and room for downside continuation.


🎯 Target & Risk:

Target: $101,027

If price confirms the pattern breakdown, traders may look for short setups toward the support level.

Confirmation could come from a break below the lower trendline of the flag and strong bearish candles.





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