In the 1-hour timeframe, Bitcoin is forming a falling wedge pattern, a historically bullish structure that often precedes upward price momentum. Currently, the Relative Strength Index (RSI) is below 40, indicating oversold conditions and increasing the likelihood of an upward reversal.
The price is consolidating near a key support level, and if this level holds, a breakout could drive Bitcoin toward the following targets:
Target 1: $88,000
Target 2: $96,263
Target 3: $102,263
If the wedge breaks upward, moving averages align to support sustained bullishness.
USDT Dominance Signals Capital Inflow to BTC 🏦
The USDT Dominance (USDT.D) chart reveals a potential head and shoulders pattern, signaling that Tether's dominance may decline soon. Historically, when USDT.D weakens, capital flows into assets like Bitcoin, often fueling BTC price surges.
This synergy between BTC's falling wedge breakout and weakening USDT dominance points to a bullish scenario for Bitcoin.
Liquidation Heatmap: A Bullish Catalyst 💥
Analyzing the BTC/USDT liquidation heatmap, significant leverage positions are evident around the $93,000–$96,000 range. If Bitcoin breaches these levels, the cascade of liquidations could trigger a rapid upward move, further confirming the bullish breakout momentum.
Trade Details:
Entry Zone: Around $91,949.75
1st Target (TP1): $95,513.33
2nd Target (TP2): $99,913.57
3rd Target (TP3): $102,299.62
This trade setup is ideal for spot trading. If you're looking for futures signals, join my Binance live stream for exclusive insights.
Why Act Now?
📉 Oversold RSI indicates a reversal is imminent.
📊 Falling wedge pattern aligns with bullish historical trends.
💡 USDT dominance decline suggests market-wide capital inflows.
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