BTC/USD Short-Term Rebound: Testing Key Resistance Ahead
This BTC/USD chart (2-hour timeframe) shows a descending triangle pattern with a strong resistance trendline.
Key Observations:
1. Price Rejection & Support:
- BTC recently bounced from a support level around 93,747 and surged back above 97,952.
- This suggests a potential short-term recovery.
2. Potential Upside Target:
- The chart highlights a **resistance zone around 102,500–104,049, which aligns with the descending trendline.
- A move toward this level is likely if the current momentum continues.
3. Breakout or Rejection?
- If BTC breaks 104,049 with strong volume, it could challenge 108,411.
- Failure to break resistance could lead to another drop toward 93,747 or lower.
Strategy Consideration
- Short-term traders: Watch for a retest of 102,500–104,049 before deciding on a breakout trade or shorting the rejection.
- Long-term perspective: If BTC holds above 93,747, bullish momentum might strengthen.
Key Observations:
1. Price Rejection & Support:
- BTC recently bounced from a support level around 93,747 and surged back above 97,952.
- This suggests a potential short-term recovery.
2. Potential Upside Target:
- The chart highlights a **resistance zone around 102,500–104,049, which aligns with the descending trendline.
- A move toward this level is likely if the current momentum continues.
3. Breakout or Rejection?
- If BTC breaks 104,049 with strong volume, it could challenge 108,411.
- Failure to break resistance could lead to another drop toward 93,747 or lower.
Strategy Consideration
- Short-term traders: Watch for a retest of 102,500–104,049 before deciding on a breakout trade or shorting the rejection.
- Long-term perspective: If BTC holds above 93,747, bullish momentum might strengthen.
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