Bearish Clouds Persist Over $BTC : Key Levels to Watch on the 1-Hour Chart

#Bitcoin on the 1-hour chart shows a consolidation phase, with price action struggling to establish clear momentum. Key resistance levels are identified at $99,676.48, $100,146.9, and $100,313.57, while support zones at $99,350.0, $99,155.98, and $98,884.02 are closely monitored by traders. The technical indicators suggest a nuanced market outlook, presenting opportunities for both bullish and bearish traders.

The Relative Strength Index (RSI), hovering near neutral levels, reflects subdued momentum. This indicates that neither buyers nor sellers dominate, although the slight uptick in recent readings hints at possible bullish attempts to reclaim higher levels. However, caution is warranted as the RSI remains well below overbought thresholds, suggesting a lack of strong bullish momentum.

The MACD histogram displays a gradual decrease in bearish pressure, with the MACD line edging closer to its signal line. While this convergence may hint at an incoming bullish crossover, the overall trend remains uncertain as the MACD values linger in bearish territory. Traders should keep an eye on whether this potential crossover materializes, signaling a short-term upward reversal.

From a moving average perspective, the 9 EMA trending slightly below the 20 EMA confirms the current bearish bias. However, the proximity of the EMAs to the price action indicates a tight consolidation phase. A break above the 9 EMA, coupled with strong volume, could signal a shift towards bullish dominance, potentially targeting the resistance at $99,676.48 or higher. $BTC #BTC #BTCUSDT