Hi!
Bitcoin has completed a textbook Head & Shoulders pattern after rejecting from its all-time high region, and the projected downside target has already been reached.
The market is now revisiting a key support zone (highlighted in purple), which could act as a major demand area. As long as this zone holds, the current decline may be viewed as a correction rather than the start of a larger bearish trend.
What makes this level particularly interesting is the volume profile. A significant amount of Bitcoin changed hands during the 2022–2023 accumulation phase, yet a comparable amount has not been distributed near the recent highs. This suggests that a large portion of long-term holders may still be holding their positions, increasing the probability that buyers defend this support area.
That said, volume remains the deciding factor. If heavy selling pressure emerges while price trades within this range, the odds of a breakdown increase substantially. A confirmed loss of support could open the door for a much deeper correction, with the $30,000 region becoming a realistic downside target.
For now, all eyes are on this support zone. The reaction here will likely determine Bitcoin’s next major trend.
Bitcoin has completed a textbook Head & Shoulders pattern after rejecting from its all-time high region, and the projected downside target has already been reached.
The market is now revisiting a key support zone (highlighted in purple), which could act as a major demand area. As long as this zone holds, the current decline may be viewed as a correction rather than the start of a larger bearish trend.
What makes this level particularly interesting is the volume profile. A significant amount of Bitcoin changed hands during the 2022–2023 accumulation phase, yet a comparable amount has not been distributed near the recent highs. This suggests that a large portion of long-term holders may still be holding their positions, increasing the probability that buyers defend this support area.
That said, volume remains the deciding factor. If heavy selling pressure emerges while price trades within this range, the odds of a breakdown increase substantially. A confirmed loss of support could open the door for a much deeper correction, with the $30,000 region becoming a realistic downside target.
For now, all eyes are on this support zone. The reaction here will likely determine Bitcoin’s next major trend.
Nota
Where did the money go?Gold, silver, and cryptocurrencies have all dropped sharply in recent days. Many people ask: "Where did all the money go?"
The answer is simple: money doesn't disappear, it moves. Investors are shifting capital into cash, the U.S. dollar, government bonds, and other lower-risk assets as uncertainty grows. At the same time, falling prices reduce total market value, making losses appear larger than the actual cash that exits the market.
In short, this is a classic risk-off environment: money is leaving riskier assets and seeking safety until market confidence returns. 📉➡️💵
Nota
#BTC is too loyal to stay below the SMA👀
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Publicações relacionadas
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.