Hello Traders! 👋
What are your thoughts on Bitcoin?
Following a sharp decline, the price has entered a corrective phase and is currently oscillating within an ascending channel.
Price is expected to push from the lower boundary of the channel toward the upper boundary. This area coincides with a key resistance zone, where a rejection is highly probable.
Main Scenario (Bearish):
Should the price react negatively at the channel's resistance, a breakout below the channel's support will confirm the continuation of the downtrend, clearing the path toward lower targets.
Alternative Scenario:
If the price breaks above the channel resistance and the supply zone with strong momentum and manages to hold above it, the bearish outlook will be invalidated, increasing the probability of a move to the upside.
Price action around the channel resistance and the supply zone will be the ultimate decider for the market's next directional move.
Please don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on Bitcoin?
Following a sharp decline, the price has entered a corrective phase and is currently oscillating within an ascending channel.
Price is expected to push from the lower boundary of the channel toward the upper boundary. This area coincides with a key resistance zone, where a rejection is highly probable.
Main Scenario (Bearish):
Should the price react negatively at the channel's resistance, a breakout below the channel's support will confirm the continuation of the downtrend, clearing the path toward lower targets.
Alternative Scenario:
If the price breaks above the channel resistance and the supply zone with strong momentum and manages to hold above it, the bearish outlook will be invalidated, increasing the probability of a move to the upside.
Price action around the channel resistance and the supply zone will be the ultimate decider for the market's next directional move.
Please don’t forget to like and share your thoughts in the comments! ❤️
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Related publications
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.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Related publications
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.