Hello Traders! 👋
What are your thoughts on Bitcoin?
Bitcoin is currently moving within a well-defined descending channel. After reaching the lower boundary of the channel, price reacted positively and showed a noticeable bounce.
However, this move appears to be a bullish correction within a broader bearish trend, rather than a full trend reversal.
Technical Outlook:
Price respected the lower channel support and initiated a rebound.
The current move is corrective in structure.
The next key resistance lies at the previously marked supply zone, which also aligns with the upper boundary of the descending channel.
Expected Scenario:
We anticipate that this corrective rally may extend toward the highlighted resistance area near the channel’s upper trendline.
If price reaches that confluence zone and shows weakness, we expect a rejection (bearish reaction) and a continuation of the downward movement toward the channel’s lower boundary.
As long as price remains inside the descending channel, the overall bias stays bearish.
What’s your view?
Do you expect a breakout from the channel, or another lower low?
Don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on Bitcoin?
Bitcoin is currently moving within a well-defined descending channel. After reaching the lower boundary of the channel, price reacted positively and showed a noticeable bounce.
However, this move appears to be a bullish correction within a broader bearish trend, rather than a full trend reversal.
Technical Outlook:
Price respected the lower channel support and initiated a rebound.
The current move is corrective in structure.
The next key resistance lies at the previously marked supply zone, which also aligns with the upper boundary of the descending channel.
Expected Scenario:
We anticipate that this corrective rally may extend toward the highlighted resistance area near the channel’s upper trendline.
If price reaches that confluence zone and shows weakness, we expect a rejection (bearish reaction) and a continuation of the downward movement toward the channel’s lower boundary.
As long as price remains inside the descending channel, the overall bias stays bearish.
What’s your view?
Do you expect a breakout from the channel, or another lower low?
Don’t forget to like and share your thoughts in the comments! ❤️
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t.me/+1gFAIO4CJJw3NTU0
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.