BTCUSD Daily Technical Analysis

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This one-hour period technical analysis chart for Bitcoin (BTC/USD) shows a negative trading scenario. To help guide the trading idea, the chart includes important levels of support and resistance, trend direction, and breakout confirmation.

Analysis of Trends
Lower highs and lower lows over the previous sessions have indicated that the price is in a downward trend.
Bearish momentum is confirmed by the breakdown below the prior support, which was at $99,000.
Given that sellers control short-term price fluctuations, the bearish tendency is consistent with the mood of the market as a whole.
Technical Evaluation
1. Resistance Zone: The price was unable to maintain a rally around $101,000, which is a crucial rejection zone.
At this stage, several rejections strengthen the resistance.
2. Breakout Confirmation: The price became resistance after breaking below the prior support level at $99,000.
A successful retest of this level, which is currently resistance, indicates that the bearish trend will continue.
3. objective Level: The trade's downside objective is the next support level, which is $95,000.
This level corresponds to demand areas that buyers have already entered.
4. Risk management: If the bearish thesis is not successful, a stop-loss position above the resistance line close to $101,000 guarantees that risk is kept to a minimum.
Basic Analysis

Macroeconomic Factors: Risky assets like Bitcoin may be under pressure from a possible tightening of liquidity or hawkish central bank policies.

Bearish momentum is also fueled by negative mood derived from regulatory news or poor trade volume.

Market Correlation: Since risk-off sentiment is prevalent, Bitcoin's decline is in line with broader market weakness in cryptocurrencies.
Finalize a short trade with a stringent risk management strategy aimed at $95,000. It reinforces the possibility of additional downside by combining bearish price activity, a definite decline, and fundamental headwinds. The trade gains conviction if there is a confirmed breach and retest of resistance at $99,000.