Hello traders! Here’s my technical outlook based on the current BTCUSDT (1H) chart structure. BTCUSDT previously traded inside a range before breaking higher and later forming a descending structure. Price then created a Rounding Bottom near the lows and broke above the Buyer Zone, shifting momentum bullish.Currently, BTCUSDT is trading below the 79,600 Seller Zone while holding above the 77,400 Buyer Zone and Support Level. The recent bounce from the Rounding Bottom suggests buyers are preparing for another move higher. As long as BTCUSDT remains above the 77,400 Buyer Zone and respects the current support structure, the bullish scenario remains valid. A continuation higher could push price toward the 79,600 Seller Zone (TP1). However, a breakdown and close below the Buyer Zone would weaken the bullish outlook and increase the possibility of further downside. Please share this idea with your friends and click "Boost" 🚀
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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.