Technical analysis by samee_tehreek about Symbol BTC: Buy recommendation (5/5/2025)

As of the current 1-hour timeframe, Bitcoin (BTC) is exhibiting early signs of a potential bullish reversal after a sustained downtrend.Key Observations:Price Structure:A clear downtrend was established with a series of Lower Highs (LH) and Lower Lows (LL) from the recent Higher High (HH).The price action formed a bullish reversal pattern, possibly a Double Bottom or Inverted Head and Shoulders, near the recent LL around $93,300.Break of Trendline:The downward trendline connecting the recent highs has been broken, indicating a shift in momentum from bearish to bullish.RSI Analysis:The Relative Strength Index (RSI) has shown a bullish divergence. While the price made lower lows, RSI made higher lows, signaling a weakening of bearish momentum.RSI currently stands near 46.88, moving upward, which supports a potential move toward the overbought zone.Entry and Risk Levels:Buy Stop: 94,944.95 USDTStop Loss: 93,279.56 USDT (just below recent support and second LL)This setup implies a calculated long entry only if price confirms bullish continuation by breaking above the Buy Stop level.Target Levels:TP1: 96,526 USDT – First resistance level aligned with previous structure zone.TP2: 98,119 USDT – Second major target near the previous swing high zone.Conclusion:A break above the $94,944 resistance would confirm a bullish reversal with potential targets at $96,526 and $98,119. However, failure to sustain above $94,000 or a breakdown below $93,279 would invalidate the bullish bias. Traders should monitor the RSI for confirmation and use proper risk management.