Hello Traders! 👋
What are your thoughts on Bitcoin ?
Bitcoin continues to trade within a well-defined descending channel. After reaching the major resistance zone around 82,000 and the upper boundary of the channel, price faced strong selling pressure and was rejected from that area.
Over the past few days, Bitcoin has experienced a notable decline, breaking below the key support zone around 65,000, which has further reinforced the bearish market structure.
Price has now reached a support area that could provide short-term buying interest and temporarily prevent further downside. As a result, a bullish correction and a potential pullback toward the recently broken support zone may develop in the coming sessions.
After the bullish correction is completed, we expect price to face rejection from the resistance zone, where sellers may once again take control of the market and drive Bitcoin lower toward the marked downside targets.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on Bitcoin ?
Bitcoin continues to trade within a well-defined descending channel. After reaching the major resistance zone around 82,000 and the upper boundary of the channel, price faced strong selling pressure and was rejected from that area.
Over the past few days, Bitcoin has experienced a notable decline, breaking below the key support zone around 65,000, which has further reinforced the bearish market structure.
Price has now reached a support area that could provide short-term buying interest and temporarily prevent further downside. As a result, a bullish correction and a potential pullback toward the recently broken support zone may develop in the coming sessions.
After the bullish correction is completed, we expect price to face rejection from the resistance zone, where sellers may once again take control of the market and drive Bitcoin lower toward the marked downside targets.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.