Hello Traders! 👋
What are your thoughts on Bitcoin ?
After hitting the upper boundary of the ascending channel which overlapped with the major $82,000 resistance zone Bitcoin failed to break through and faced a sharp rejection.
Following the rejection, Bitcoin gained downward momentum and successfully broke below its short-term ascending trendline, signaling a shift in market structure.
The price has now paused at a minor horizontal support zone, which is temporarily slowing down the bearish momentum.
From the current support level, we expect a minor bullish relief rally. This upward move will likely act as a pullback (retest) to the broken trendline and the newly formed resistance zone overhead.
Once the pullback is completed and if sellers re-enter the market, the main downward wave should trigger. The ultimate target for this correction is the lower boundary (bottom) of the ascending channel around the $71,000 zone.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on Bitcoin ?
After hitting the upper boundary of the ascending channel which overlapped with the major $82,000 resistance zone Bitcoin failed to break through and faced a sharp rejection.
Following the rejection, Bitcoin gained downward momentum and successfully broke below its short-term ascending trendline, signaling a shift in market structure.
The price has now paused at a minor horizontal support zone, which is temporarily slowing down the bearish momentum.
From the current support level, we expect a minor bullish relief rally. This upward move will likely act as a pullback (retest) to the broken trendline and the newly formed resistance zone overhead.
Once the pullback is completed and if sellers re-enter the market, the main downward wave should trigger. The ultimate target for this correction is the lower boundary (bottom) of the ascending channel around the $71,000 zone.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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t.me/+1gFAIO4CJJw3NTU0
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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
Publikasi terkait
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.