Bitcoin is currently trading at a major resistance zone around $64,000, where price has already experienced a local rejection. This level aligns with a key daily resistance, making it an important area for determining the next short-term move. While the broader recovery remains intact, buyers are now facing a critical technical test.
Following the rejection, Bitcoin is testing the Point of Control (POC) of the current trading range. This high-volume level is acting as immediate support, and whether it holds or fails will likely dictate the next rotation. A loss of the POC would increase the probability of a move toward the $59,000 support, where the 0.618 Fibonacci retracement provides additional technical confluence.
The $59,000 region is the key level to watch. If buyers successfully defend this support and price forms a bullish reaction, it would establish a higher low and increase the probability of another rally toward the range highs. Such a move would suggest that the recent rejection is simply a healthy pullback within the broader recovery.
For now, Bitcoin appears likely to experience a local corrective move before attempting another push higher. As long as the $59,000 support remains intact, the overall outlook continues to favor a rotational move back toward resistance and potentially higher prices.
Following the rejection, Bitcoin is testing the Point of Control (POC) of the current trading range. This high-volume level is acting as immediate support, and whether it holds or fails will likely dictate the next rotation. A loss of the POC would increase the probability of a move toward the $59,000 support, where the 0.618 Fibonacci retracement provides additional technical confluence.
The $59,000 region is the key level to watch. If buyers successfully defend this support and price forms a bullish reaction, it would establish a higher low and increase the probability of another rally toward the range highs. Such a move would suggest that the recent rejection is simply a healthy pullback within the broader recovery.
For now, Bitcoin appears likely to experience a local corrective move before attempting another push higher. As long as the $59,000 support remains intact, the overall outlook continues to favor a rotational move back toward resistance and potentially higher prices.
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partner.blofin.com/d/TheAlchemist
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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.