BTC/USD 1H CHART PATTERN

The chart you've shared is a 1-hour technical analysis for Gold Spot (XAU/USD). Here's a breakdown of the setup and its implications:


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🔍 Chart Summary

Trend Context:

Price has formed a descending channel after peaking around 3,420–3,430.

A clear distribution phase is marked by red arrows near the highs.

Followed by a channel down, indicating bearish momentum.



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📉 Current Trade Setup

Entry Signal: Recent rejection near 3,374.868 (Stop Loss level).

Current Price: 3,347.260

Trade Bias: Sell (as indicated by the "SELL HOLD BRO" box).



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📊 Key Levels

Type Price Notes

Stop Loss 3,374.868 Above recent swing high
Take Profit 3,323.900 First TP, near previous support
Final TP 3,294.070 Extended target zone



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🔁 Pattern Insight

Bear Flag/Channel Breakdown: Price broke down from a descending channel – this supports a bearish continuation.

Support Levels: Zones at 3,324 and 3,294 are crucial; price might bounce or consolidate around these areas.

Volume & Reaction: Not visible on this chart, but confirmation via volume drop on pullbacks would strengthen the sell thesis.



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✅ Conclusion

This is a sell continuation setup:

✔ Breakdown confirmed.

🎯 TP zones marked.

🛑 Proper SL defined to protect capital.


> 📌 Caution: If price reclaims 3,375 with momentum, the bearish idea becomes invalid.