Hi everyone! 🌴🏋🏽
Yesterday I highlighted the new local support level at 65,500, which had acted as resistance several times over the past 7 days. I also mentioned that during a strong uptrend, these local — not necessarily “rock-solid” — levels are often enough to stop a short-term correction.
After breaking below the ascending channel, Bitcoin bounced exactly from this level 🎯 Over the past 24 hours we’ve already seen four such bounces (marked with green arrows). On top of that, about an hour ago we saw what looked like a false breakdown, as the price briefly moved below support before quickly reclaiming it.
Once the U.S. session opens, we’ll find out whether that breakdown was truly false or if sellers are ready to push the price lower 📈🚀📉🔪
Despite the multiple tests of the 65,500 level, my primary scenario remains bullish.
🦬🚀 “Any close above 65k is just a pause before another attempt to break 67,600.”
🐻🧨 Bearish scenario.
If Bitcoin fails to reclaim and hold above 65k, the bears will likely take control. In that case, the next downside targets are:
- 64,000 — local horizontal support + the 4H EMA 100 and 4H EMA 200.
- 62,500 — the key support level where Bitcoin has been consolidating since early June.
Peace 🌄
Yesterday I highlighted the new local support level at 65,500, which had acted as resistance several times over the past 7 days. I also mentioned that during a strong uptrend, these local — not necessarily “rock-solid” — levels are often enough to stop a short-term correction.
After breaking below the ascending channel, Bitcoin bounced exactly from this level 🎯 Over the past 24 hours we’ve already seen four such bounces (marked with green arrows). On top of that, about an hour ago we saw what looked like a false breakdown, as the price briefly moved below support before quickly reclaiming it.
Once the U.S. session opens, we’ll find out whether that breakdown was truly false or if sellers are ready to push the price lower 📈🚀📉🔪
Despite the multiple tests of the 65,500 level, my primary scenario remains bullish.
🦬🚀 “Any close above 65k is just a pause before another attempt to break 67,600.”
🐻🧨 Bearish scenario.
If Bitcoin fails to reclaim and hold above 65k, the bears will likely take control. In that case, the next downside targets are:
- 64,000 — local horizontal support + the 4H EMA 100 and 4H EMA 200.
- 62,500 — the key support level where Bitcoin has been consolidating since early June.
Peace 🌄
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.