Bitcoin has broken down from the rising wedge pattern and retested the breakdown zone, encountering strong resistance from both the Ichimoku Cloud and the 200MA.
Key Resistance: The upper green zone is around $98,000–$99,000.
Support Zone: The horizontal black box around $92,000–$94,000 serves as immediate support.
A failure to hold above this support zone could continue the downtrend, potentially targeting the larger beige demand zone near $78,000–$80,000.
Conversely, if BTC reclaims the green resistance zone, it could invalidate the bearish outlook and push higher.
Overall, the bias remains bearish unless BTC reclaims key resistance levels.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a financial advisor before making investment decisions.
For updates on other coins or personalized insights, feel free to reach out via DM.
DYOR, NFA
@Peter_CSAdmin
Key Resistance: The upper green zone is around $98,000–$99,000.
Support Zone: The horizontal black box around $92,000–$94,000 serves as immediate support.
A failure to hold above this support zone could continue the downtrend, potentially targeting the larger beige demand zone near $78,000–$80,000.
Conversely, if BTC reclaims the green resistance zone, it could invalidate the bearish outlook and push higher.
Overall, the bias remains bearish unless BTC reclaims key resistance levels.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Always conduct your research and consult a financial advisor before making investment decisions.
For updates on other coins or personalized insights, feel free to reach out via DM.
DYOR, NFA
@Peter_CSAdmin
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Publications connexes
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.