The 1-hour time frame signals a neutral to bearish bias for BTC as it trades within the defined range. Support needs to hold for the current pattern to persist.
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, daily and 4-hours charts.
1 Hour Timeframe
The 1-hour chart shows that BTC/USDT is currently trading within a defined range zone between 44,661.51-46,999.79 USD.
Short-term analysis shows BTC is range-bound on the 1-hour chart. As long as support at 44,600 holds, consolidation between the range bounds is likely to continue. A break above 47,249 resistance would imply potential upside momentum in the near-term.
Support and Resistance Levels
Support Zone 1 | 44600.00 |
Resistance Zone 1 | 47248.99 |
There is strong support at the bottom of the range zone at 44,600 USD. Price recently bounced up from this support level, suggesting it is likely to hold on further dips.
Resistance is seen at the 47,248.99 USD level. For the trend to turn bullish on the 1-hour timeframe, price needs to break above this resistance.
Range Zone
Range High | Mid Range | Range Low |
46999.79 | 45812.80 | 44661.51 |
The mid-point of the range provides an indication of potential upside or downside moves. Currently, price is trading slightly below the mid-point of 45,812.80 USD.