$BTC Bitcoin chart looking spicy, Buyers in control ??
Let’s analyze Bitcoin on the 1-hour timeframe.
As we can see, the market was previously trading inside a clear bearish channel, forming continuous lower highs and lower lows, which confirmed strong selling pressure and overall seller dominance.
Here, we notice a strong bearish channel breakout, which signals a potential shift in market structure. This breakout indicates that selling momentum is weakening and buyers are starting to gain control of the market.
After the breakout, price formed a change of character (CHoCH), confirming the