👋 Hey everyone! Hope you’re doing great!
💥 Welcome to Satoshi Frame — today we’re diving into the 1-hour Bitcoin analysis. Stay tuned and follow along!
👀 On the 1-hour timeframe of Bitcoin, we can see that after its recent drop, Bitcoin has entered a one-hour consolidation box. The top of this box is around $115,802, and the bottom is at $110,224. A breakout from this box could lead to the next impulsive move. Currently, Bitcoin’s price is near the midline of the box at $113,222 — and if it breaks and stabilizes above this level, Bitcoin could start moving toward the top of the box and potentially break above it.
Notice that Bitcoin reacted to the buyer-maker zone near the bottom of the box, showing a reversal pattern. With buying pressure pushing it upward and a higher low forming, the probability of a midline breakout has increased.
🧮 Looking at Bitcoin’s RSI oscillator, it’s currently near the static resistance around the 54 range. If RSI breaks and stabilizes above this level, long-trade momentum is likely to increase, which could help Bitcoin break through the midline and become more bullish.
🕯 Let’s first discuss the maker-buyer zone, which acts as a major support area for buyers and institutions that accumulate their positions here. This area tends to create counter-direction reactions in Bitcoin. Right now, Bitcoin has formed a higher low just below the midline and is showing increasing buying volume, with larger candle sizes appearing on the chart.
🧠 For Bitcoin’s trading setup, once the midline breaks, we can consider entering a position, forming a potential long scenario:
↗️ Long Position Scenario:
If Bitcoin breaks and stabilizes above $113,222, accompanied by an RSI breakout above 54 and a rise in buying volume, it could move toward the top of the box and provide a solid long opportunity.
❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .
