Bitcoin BTCUSDT Price Analysis (1h)

٢٤ أغسطس ٢٠٢٣

Exploring Bitcoin's 1-hour timeframe unveils two distinct price structures, offering insight into the forthcoming price movement. The current price range intriguingly aligns with the Wyckoff Theory's Accumulation Model. A simple comparison between the image above the price action and the actual shape reveals a striking resemblance, complete with creek and spring stages.



A closer examination of the RSI highlights a Bullish Divergence scenario – a compelling buy signal. This fundamental pattern occurs when the price records a lower low while the RSI marks a higher low, indicating potential upward momentum.

A significant resistance milestone sits at $27,800 – an essential level that could materialize once the accumulation phase concludes. Meanwhile, pivotal support levels are identified at $26,200 and $25,800. A breach beneath these levels could potentially pave the way for a shift in favor of sellers.

Stay vigilant as we navigate these intriguing market dynamics, leveraging these insights to guide your trading decisions. 🚀📊