Bitcoin – Consolidating on H1, Awaiting Breakout Confirmation

Bitcoin 28/06 – Consolidating on H1, Awaiting Breakout Confirmation
Technical Analysis – H1 Timeframe
BTCUSD is currently consolidating within a descending channel on the H1 chart, indicating market indecision after recent volatility.

This structure could lead to strong movement once price breaks out of either trendline.

Scenario if the Lower Trendline is Broken
If price breaks the lower trendline, the next key target is 104,000 – 104,600

This is considered a potential reaction zone where we can monitor for bullish confirmation.

Strategy: Look for long entries near 104k–104.6k upon confirmation

Scenario if the Upper Trendline is Broken
If BTC breaks the upper trendline, consider:
Waiting for a retest of the breakout for safer entries
Or entering a long position immediately if price breaks past the resistance zone (Dow breakout)
Initial upside target lies near the 111,000 resistance zone

Trade Plan
Buy setup: 104,000 – 104,600

Short entries: Possible short scalps while price remains inside the channel or near upper trendline resistance

Notes
This is a narrow-range consolidation phase.
Avoid FOMO and wait for clear structure confirmation before entering trades.
Maintain strict risk management and position sizing.