BTCUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This is a Bitcoin (BTC/USD) price chart on a 1-hour timeframe from TradingView, published by the user "afzalforex110." Here’s what it indicates:

1. Support & Resistance Levels:

A resistance level is marked at 93,375, which could act as a target if the price rises.

A support level is drawn at 84,120, which is crucial for determining price reactions.



2. Buy Zone:

The pink-shaded "BUY ZOON" (likely meant as "BUY ZONE") is located around the $78,000 - $80,000 range.

This suggests that the trader expects strong buying interest in this area.



3. Potential Price Movement (Blue Arrows):

If the price retraces to the 84,120 support and holds, it could push higher.

A potential breakout above 85,892 may trigger further upside.

If the price drops below 84,120, a deeper pullback towards the buy zone is expected before a possible rebound.




Trading Strategy Implication:

Bullish Bias: The trader anticipates a potential move up if key support levels hold.

Entry & Exit Points: Traders might consider buying near support or in the buy zone and targeting higher resistance levels.

Risk Management: A break below the buy zone could invalidate the bullish outlook.


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