BTCUSD – Key Zones and Strategic Possibilities for Breakout

On the current 1-hour chart, BTCUSD has established a significant resistance level near 111,923 after a strong upward move within a rising channel. The price is currently consolidating around 109,525, placing it at a critical decision point.

If the price retests the 111,923 level and faces rejection, it could signal the formation of a potential double top, indicating a bearish reversal. In this scenario, the key support levels to watch are 107,823 and 104,564. A breakdown below these zones could lead BTCUSD toward the next target at 102,136.

On the other hand, a solid breakout above 111,923 with strong volume confirmation could suggest a bullish continuation, potentially targeting the 113,000–115,000 range.

Key Levels:

Resistance: 111,923

Support: 107,823 / 104,564 / 102,136


Trading Strategy:

Look for bearish confirmation candles near 111,923 for a potential short setup, with a stop-loss slightly above that level.

If price breaks above 111,923 with momentum, consider long setups toward higher targets.


Note: This analysis is for educational purposes only. Always trade with proper risk management and according to your trading plan.