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BTCUSD technical analysis.

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This is a Bitcoin (BTC/USD) price chart from TradingView on the 1-hour timeframe, showing a technical analysis prediction.

Key Observations:

1. Current Price: Bitcoin is trading at $86,553, up +1.62%.


2. Resistance & Drop Prediction:

Price recently peaked near 87,000 and is showing signs of a potential pullback.

A downward arrow is drawn, predicting a decline towards the highlighted support zones.



3. Support Levels:

The first support zone is around $85,000.

A stronger support is near $84,000, marked in red.



4. Technical Indicators:

The price is currently above the red shaded area, which seems to be a Bollinger Band or a similar volatility indicator.

The previous breakout suggests the price might retest lower levels before deciding on the next trend.




Conclusion:

The chart suggests that Bitcoin might experience a pullback to the $85,000 - $84,000 range before potentially bouncing back. If it breaks below these zones, further downside could be expected.

Would you like further analysis or a different type of breakdown?

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BTCUSD Target successfully reached.

Penafian

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