The BTC/USD 1-hour chart highlights a key resistance zone (shaded in pink) around the 97,000 level. The price is currently consolidating near this zone, with a potential scenario for a breakout towards the target of 101,000.
Key Observations:
1. Resistance Zone: The 97,000–98,000 level has been a significant area of interaction, acting as resistance.
2. Potential Pullback: A short-term dip toward 96,000 could occur before a bullish breakout.
3. Upside Target: If the price sustains a breakout above 98,000, it may aim for the target at 101,000.
Trading Plan:
Consider buying on a confirmed breakout above the resistance zone with a target of 101,000.