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Bitcoin Reversal Spot

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Bitcoin Analysis on the 1-Hour Time Frame:

During the recent trend, we observed a buyer trap zone and clear stop-loss hunting. Liquidity started at the 28200 zone and made a low till 25800. We believe this removed many weak buyers from the trend. We also saw good buying pressure at the 25800 zone, indicating a strong reversal.

However, we need strong confirmation before entering a trade. We should wait for the change of character region to be confirmed before taking any action. Once confirmed, we can start buying with a target of 28200.

According to the smart money concept, once the change of character is confirmed, we may expect the price to hit the 26394 level. This can be considered as the entry point with a stop-loss of 26160.

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