1-hour timeframe.
1. Support Zone (Lower purple region): A price level near $97,000 where Bitcoin has shown buying interest, potentially acting as a strong support level.
2. Resistance Zone / Target (Upper purple region): A potential price target around $102,000, which the chart indicates could be the next area of interest if the price recovers.
3. Current Price Action: Bitcoin is trading at $97,953.42, with a sharp drop of -4.19%.
The arrow indicates an expected move upward toward the $102,000 resistance zone. This projection assumes the support at $97,000 holds, but traders should monitor volume and price action closely for confirmation.
2. Resistance Zone / Target (Upper purple region): A potential price target around $102,000, which the chart indicates could be the next area of interest if the price recovers.
3. Current Price Action: Bitcoin is trading at $97,953.42, with a sharp drop of -4.19%.
The arrow indicates an expected move upward toward the $102,000 resistance zone. This projection assumes the support at $97,000 holds, but traders should monitor volume and price action closely for confirmation.
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