This 1-hour BTC/USD chart shows Bitcoin bouncing from a strong Demand Zone around the $80,000 level, with bullish momentum supported by a rising Trend Line. Price previously reversed from the Reversal Zone near $87,000 and is now forming higher lows. A potential short-term target is highlighted at $85,500, suggesting continued upward movement if price maintains support above the trend line. Key resistance and previous rejection points are marked for context, indicating a bullish setup toward the target.
1. Market Structure:
The market previously ranged sideways (highlighted by the blue box on the left).
A bullish breakout occurred from that range, initiating a strong upward trend (yellow highlighted channel), indicating buyer dominance.
Price reached the Reversal Zone near $87,000, which acted as a resistance area, triggering a pullback.
2. Demand Zone:
Price retraced to a clearly marked Demand Zone (~$79,000 - $81,000), which has previously held as a strong support.
The recent bounce from this zone suggests buying interest and potential accumulation by bulls.
3. Trend Line Support:
A trend line is drawn from the recent low, supporting the price action upwards.
This trend line acts as dynamic support, and the price is currently respecting it, indicating a bullish trend continuation.
4. Rejection and Higher Lows:
Two red circles highlight areas of rejection or resistance, where price was previously pushed down.
After the second rejection, price made a higher low and started climbing again, showing potential trend reversal to the upside.
5. Target Projection:
The projected target is $85,500, a level just below the previous Reversal Zone, which may act as resistance again.
The chart suggests price will move higher along the trend line, with a possible minor pullback before hitting the target.
Summary:
Bias: Bullish, as long as the price stays above the trend line and demand zone.
Confirmation: Break of recent highs near $84,000 will add confidence to reaching the $85,500 target.
Invalidation: A break below the trend line and drop into the demand zone could signal weakness or further consolidation.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
1. Market Structure:
The market previously ranged sideways (highlighted by the blue box on the left).
A bullish breakout occurred from that range, initiating a strong upward trend (yellow highlighted channel), indicating buyer dominance.
Price reached the Reversal Zone near $87,000, which acted as a resistance area, triggering a pullback.
2. Demand Zone:
Price retraced to a clearly marked Demand Zone (~$79,000 - $81,000), which has previously held as a strong support.
The recent bounce from this zone suggests buying interest and potential accumulation by bulls.
3. Trend Line Support:
A trend line is drawn from the recent low, supporting the price action upwards.
This trend line acts as dynamic support, and the price is currently respecting it, indicating a bullish trend continuation.
4. Rejection and Higher Lows:
Two red circles highlight areas of rejection or resistance, where price was previously pushed down.
After the second rejection, price made a higher low and started climbing again, showing potential trend reversal to the upside.
5. Target Projection:
The projected target is $85,500, a level just below the previous Reversal Zone, which may act as resistance again.
The chart suggests price will move higher along the trend line, with a possible minor pullback before hitting the target.
Summary:
Bias: Bullish, as long as the price stays above the trend line and demand zone.
Confirmation: Break of recent highs near $84,000 will add confidence to reaching the $85,500 target.
Invalidation: A break below the trend line and drop into the demand zone could signal weakness or further consolidation.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
交易結束：目標達成
Target reached successfully BTC has Touch 87k
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