BTC/USDT 1H Update :
Bearish Tendencies and Upthrust Signals – A Technical Breakdown
#BEARISH📉 #BTCUSDT #btcupdates2024 #BinanceSquareFamily #Write2Earn!
Key Developments :
Sell Zone Formation :
At 8:00 AM (UTC+7) on December 4, BTC entered a balance in the 96,374 USDT sell zone.
Previous entry signals with bearish tendencies were observed at 12:00 AM on December 3.
Upthrusts Observed :
A temporary upthrust above resistance was spotted but lacked significant follow-through from buyers or sellers.
This highlights indecision in the market and the potential for short-term reversals.
M5 Analysis :
On the 5-minute chart, early signs of upthrusts were noted, but no reliable levels were formed.
An M5 2-bar upthrust triggered a stop loss, highlighting market volatility.
Analysis & Strategy :
Bearish Outlook : The lack of sustained buyer activity in the sell zone and unconfirmed upthrust signals on the 1-hour chart (1H) suggest a bearish trend is still dominant.
Key Resistance Levels :
Sell Zone : 96,374 USDT.
Upper Barrier : 97,000 USDT for potential short opportunities.
Conclusion :
BTC remains in a bearish territory with temporary upthrust signals lacking reliability. The market shows a range-bound behavior, with indecision at critical levels. Traders should watch for clearer signals before entering positions.
Pro-Tip for Traders :
Wait for Confirmation :
A reliable 1H upthrust or a strong retest of the sell zone is necessary before taking action.
Set Tight Stops :
High volatility at M5 levels can result in premature stop losses; ensure proper risk management.
Patience is Key :
In uncertain markets, avoid over-trading and look for stronger signals to secure trades.
Final Advice :
For now, adopt a wait-and-see approach and proceed cautiously as BTC remains uncertain at resistance. 🛡️