BTC
2025-02-08
Category: None

📊 BTC/USDT Technical Analysis – 1W Timeframe

🔹 Price Structure: BTC is currently showing a potential Double Top formation. If the recent wick gets filled, it could confirm an M-Pattern, indicating a possible short-term pullback.

🔹 Key Levels:

Main Resistance: 98,659 - 102,478 USDT
Support Zone: 90,794 - 91,229 USDT (Potential liquidity area)
Fib Retracement: 0.236 around 90,794 USDT as a key point of interest.
🔹 Possible Scenario:
If BTC revisits the support zone, we could see a wick into the liquidity area before a potential recovery in the main trend.

🔹 Indicators:

RSI (14): 60.70 – Still in bullish territory, but showing slight weakening.
Stochastic RSI: 23.65 / 36.40 – Suggests a possible rebound if further downside occurs.
🔹 Conclusion: BTC is at a critical technical level. A bounce from the support zone could favor a continuation of the bullish trend, while a breakdown below 90,794 USDT may lead to a deeper test towards the 0.382 Fib level.

💡 What’s your take on this setup? 💬 Drop your thoughts below!