BTC H1 Price Action Analysis: Bearish Trendline Challenge Ahead

BTC H1 Price Action Analysis: Bearish Trendline Challenge Ahead by Khiwe on TradingView.com

The price action over BTC H1 is a bit unclear. The current candle is bullish below a bearish trendline headed towards a bearish zone marked (Y). And if the price manages to reach above (Y) and break the 52773 area, then bears would have lost more weight.

For now, the support level 51326, which makes the low of (A), needs to break for a bearish continuation and drop below (X). However, since this is an overall bullish trend, there are two potential buy areas or ranges for a pullback and a potential continuation to the upside.

Overall the trend needs monitoring and for now short-term bearish interests.

Happy Trading

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