Bitcoin is currently trading below a descending trendline on the 1H timeframe, showing a bearish market structure with lower highs. Price recently reacted from the 68,500 resistance zone, which aligns with trendline resistance, making this a key area to watch.
As long as price remains below resistance, the market may continue to move toward the 65,000 support level. However, a breakout above the trendline and resistance could shift momentum to the upside.
This analysis is based on price action, market structure, and key support/resistance levels. This is for educational purposes only.
As long as price remains below resistance, the market may continue to move toward the 65,000 support level. However, a breakout above the trendline and resistance could shift momentum to the upside.
This analysis is based on price action, market structure, and key support/resistance levels. This is for educational purposes only.
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My Free telegram channel where I share Gold signals and updates.
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Telegram Contact: t.me/GoldWave_Trader24 or @GoldWave_Trader24
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.