This is a Bitcoin (BTC) price chart against Tether (USDT) on Binance, displayed on a 1-hour timeframe from TradingView. The current BTC/USDT price is 80,453.62, with a -3,226.50 (-3.86%) decrease.
Key Observations:
Support and Resistance Zones:
A support zone is marked in purple near the 80,000 USDT level.
A resistance zone is marked in purple around 84,000 USDT.
Bearish Price Action:
The price attempted to break above resistance but failed, forming a double top pattern (highlighted in blue).
A sharp drop followed, confirming a downward trend towards the support zone.
Possible Next Moves:
If the support holds, we may see a bounce.
If it breaks, a further drop could occur.
Would you like any further analysis on this chart?
Key Observations:
Support and Resistance Zones:
A support zone is marked in purple near the 80,000 USDT level.
A resistance zone is marked in purple around 84,000 USDT.
Bearish Price Action:
The price attempted to break above resistance but failed, forming a double top pattern (highlighted in blue).
A sharp drop followed, confirming a downward trend towards the support zone.
Possible Next Moves:
If the support holds, we may see a bounce.
If it breaks, a further drop could occur.
Would you like any further analysis on this chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.