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✍️ BTC/USD Technical Analysis – 2H Chart Breakdown 📉💡
Here’s a quick look at what the 2-hour candlestick chart on TradingView reveals for Bitcoin (BTC/USD):
🔍 Chart Overview:
1. 📉 Trend Lines:
A downtrend was followed by a relief rally, both shown with blue trendlines.
The price recently peaked and is now showing early signs of a pullback.
2. ⚠️ Pattern Indication:
The structure resembles a bearish rising wedge or bear flag.
A breakdown from the peak signals a potential downward move.
3. 🎯 Target Zone:
Projected downside target: $103,599
This aligns with a purple support zone, a previous area of price consolidation.
4. 📊 Volume Action:
Volume spiked during the last upward push and again near the top—suggesting exhaustion and possible trend reversal.
5. 💵 Current Price:
BTC is trading around $105,836, down slightly (−0.07%).
📉 What It Means (Implication):
Bitcoin is flashing a short-term bearish signal. A drop toward $103,599 seems likely, especially if the rising wedge breakdown confirms.
This could lead to a lower high formation and possibly resume the larger downtrend.
🧠 Pro Tip:
If you’re trading short-term:
🔸 Watch for confirmation below the wedge support.
🔸 Monitor volume & momentum indicators like RSI or MACD to time entries/exits.
🚨 Stay alert and trade smart – BTC’s next move might just test your discipline!
📈 Want RSI/MACD analysis, Fibonacci levels, or entry/exit setups? Just ask! 🔥
#BTC# #ETH# #SOL# #WIF# #DOGE#