Bitcoin is currently trading inside a bearish reversal area, and MFTC maintains a bearish outlook at the current price levels.
BTC has witnessed an almost 90-degree straight buying move from 75,600 to 78,200. However, price action does not always sustain such aggressive, one-sided moves.
Key Rejection Areas:
78,200: Immediate bearish rejection zone.
79,600: Major resistance and important rejection area.
We are closely monitoring these levels for a potential bearish reversal.
MFTC Reversal Confirmation:
A 15-minute or 30-minute Initial Reversal (I.R.) formation will be important to confirm bearish momentum.
If the reversal structure develops, BTC could potentially resume its downside movement towards the lower liquidity zones marked on the chart.
Our View: BEARISH
Patience is key. We are waiting for MFTC confirmation rather than blindly chasing the upside move.
This is a technical market outlook, not a guaranteed prediction. Always follow proper risk management.
BTC has witnessed an almost 90-degree straight buying move from 75,600 to 78,200. However, price action does not always sustain such aggressive, one-sided moves.
Key Rejection Areas:
78,200: Immediate bearish rejection zone.
79,600: Major resistance and important rejection area.
We are closely monitoring these levels for a potential bearish reversal.
MFTC Reversal Confirmation:
A 15-minute or 30-minute Initial Reversal (I.R.) formation will be important to confirm bearish momentum.
If the reversal structure develops, BTC could potentially resume its downside movement towards the lower liquidity zones marked on the chart.
Our View: BEARISH
Patience is key. We are waiting for MFTC confirmation rather than blindly chasing the upside move.
This is a technical market outlook, not a guaranteed prediction. Always follow proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.