BTCUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This chart is a technical analysis of Bitcoin (BTC/USD) on the 1-hour timeframe. It includes various trading indicators and patterns, likely related to harmonic trading.

Here are the key elements:

Harmonic Pattern: The blue structure on the chart resembles a harmonic pattern (possibly a Bat or Gartley pattern), which traders use to predict potential price reversals.

Sell Zone: A shaded blue region labeled "SELL ZOON" indicates a resistance level where traders might look to short BTC.

Strong Position: The label "strong position" suggests a point where a significant move or confirmation occurred.

Price Projection: The arrows and "240 pips" label indicate an expected downward movement in price.

Red and Green Zones: These represent the stop-loss (red) and take-profit (green) areas for a short (sell) trade.

Entry & Target Levels:

Resistance at 85,671 (potential stop-loss for a short trade).
Support around 81,005 (potential take-profit target).
A more extended support level around 77,667.
Interpretation:
The chart suggests a bearish outlook for BTC, expecting a price drop from the sell zone after testing resistance. The trader anticipates a downward movement, targeting lower levels while managing risk with stop-loss and take-profit zones.