Btcusd techinical analysis.

This chart represents the Bitcoin (BTC) / USD price action on a 1-hour timeframe, with technical analysis indicators suggesting a bullish outlook.

Key Elements in the Chart:

1. Current Price:

BTC is trading at $113,506.5, up +1.98% on the 1-hour chart.



2. Support and Resistance Zones:

Support Zone (purple box around ~$112,000): Recently tested and held, now acting as a potential base.

Resistance Zone (purple box around ~$113,800 to ~$114,000): Price is currently consolidating just below this zone.



3. Trendline:

A rising blue trendline is acting as dynamic support, showing upward momentum.



4. Projected Price Action (Blue Arrow Path):

The blue path suggests a potential bullish breakout from the resistance zone.

Implies consolidation, retest of support/trendline, and continuation upward—a common bullish flag or pennant pattern.





---

Interpretation:

The chart setup is bullish, expecting:

Retest of support near $113,200–$113,400

Break above the $114,000 resistance

Potential rally continuation beyond $114,000 (toward $115,000 or more)



Caution:

If BTC fails to hold the trendline or drops below the support zone (~$112,000), this bullish setup may be invalidated.


Would you like a trading strategy (e.g., entry/exit levels or risk management) based on this setup?