BTCUSDT 1-Hour Chart Signals Bullish Momentum – What's Next?
2025-01-20
Category: None

BINANCE:BTCUSDT   has displayed a mix of consolidation and bullish momentum on the 1-hour chart. Price movements near key support levels of $103,253.66 and $102,821.75 show a steady recovery trend, while resistance at $104,363.23 will test the strength of the bullish momentum.

The Relative Strength Index (RSI) suggests growing market strength, signaling a potential breakout above the current resistance if buying volume continues to rise. The MACD histogram transitioning into positive territory reinforces this bullish outlook, though traders should remain cautious as overbought conditions might trigger short-term pullbacks.

For long trades, an entry near the support zone around $103,253.66 could offer favorable risk-to-reward opportunities, targeting a breakout above $104,363.23. Short trades may consider positions near resistance if price fails to sustain momentum, with an exit near the support zones.
