BTC/USDT 1H: Bulls Eye Key Reversal from 99k Support

BTC/USDT 1H Chart Analysis (SMC Principles)
🚀 Follow me on Tradingview if you respect our charts 📈
Current Price: ~99k

Market Condition:

• Testing critical support near 99k after sharp selloff.
  
• RSI: Oversold at 30, with hidden bullish divergence forming.
  
• Bearish order block evident at 105k.
  
• Volume increasing on downside moves, signaling potential capitulation.
  

Market Maker Activity:

• Distribution phase visible at 105-106k range.
  
• Liquidity sweep engineered below 98k, potentially setting up for accumulation.
  
• Likely targeting 104k to collect sell-side liquidity.
  

Key Levels:

• Support: 98k-99k (weekly demand zone).
  
• Resistance Targets:
  
• T1: 102k
  
• T2: 104k
  
• Stop Loss: Below 97.8k (recent swing low).
  

Trade Setup (Confidence Level: 7.5/10):

• Entry Zone: 99k-100k
  
• Targets:
  
• T1: 102k
  
• T2: 104k
  
• Stop Loss: Below 97.8k
  
• Risk Score: 7/10 (moderate risk with favorable R:R).
  

Recommendation:

• Long position warranted within the 99k-100k zone, but wait for confirmation with a strong hourly close above 100k.
  
• Watch for volume spike to confirm reversal and monitor RSI divergence.
  
• Maintain tight stops due to broader bearish context.
  
• Confidence Level: 7.5/10 for potential accumulation phase.
  

🚀 Follow me on Tradingview if you respect our charts 📈