BTC 1H Analysis - Key Triggers Ahead | Day 51

☃️ Welcome to the cryptos winter , I hope you’ve started your day well.

⏰ We’re analyzing BTC on the 1-Hour timeframe .

👀 On the 1-hour timeframe for Bitcoin, we can see that after this recent bullish leg, price has now reached its resistance at $120,827. If this resistance breaks — a zone packed with short orders — Bitcoin could start an extremely sharp and powerful upward leg, essentially triggering a short squeeze. At the moment, Bitcoin is entering a corrective phase; with the start of this correction, price could head down toward its Fibonacci retracement supports, bounce from one of those levels, and then form a new trading structure.

🧮 Looking at the RSI oscillator, price has been ranging around the 70 zone and briefly entered overbuy. It is now moving toward the 50 area, its oscillation mean. A break below 50 could deepen the correction, but if support holds, RSI could again head toward the resistance zone near 70 and re-test the overbought boundary.

🎮 The Fibonacci retracement drawn from the breakout at $114,562 to $120,827 highlights several strong support areas. The most important zones for Bitcoin are the 0.236 and 0.382 retracement levels. Support here, followed by a fresh structure, could set up strong trading opportunities.

🕯 The size and volume of buy candles have been exceptionally strong and increasing — something rarely seen in Bitcoin with such a one-sided move to the upside. Now, during this corrective phase, even as selling pressure appears, roughly 70% of that sell volume is being absorbed by buyers. What we must watch closely is how buyers decide to allocate capital from here. If the key Fibonacci levels are lost, we respect the market’s decision and only then consider new trades.

🧠 For a Bitcoin position If you don’t have an open position, I recommend waiting for a new structure to form at critical Fibonacci levels, and only enter after a breakout of that structure.
If you already hold a position, consider partial profit-taking, since USDT dominance has also reached an important support zone.

❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .