🟢 #BTC/USDT 1H Chart: Channel Breakdown Alert!
Hey Bitcoin traders! Let’s dive into this 1-hour BTC/USDT chart. Bitcoin has made a decisive move, and it’s not looking good for the bulls!
BTC was trading within a well-defined ascending channel, with key levels at $95,800 (upper resistance) and $88,000 (last higher high). The price recently tested the support around $95,800 but failed to rebound, and now it’s crashed below the channel’s support, currently sitting at $94,300. This breakdown signals potential bearish momentum!
The next critical support to watch is $92,000, and if that fails, we could see BTC slide toward the previous resistance at $84,400. On the flip side, a recovery above $93,000 might bring some relief, with resistance at $98,000 and a potential retest of $100,000.
Key Levels to Watch:
▸ Resistance: $95,800, $98,000
▸ Support: $92,000
▸ Breakdown Target: $86,000
▸ Recovery Target: $98,000+
The bears are in control — where do you think BTC is headed next? https://www.tradingview.com/chart/BTCUSD/39Dpx7aq-BTC-USDT-1H-Chart-Channel-Breakdown-Alert/
