📌 As Bitcoin consolidates beneath a key supply zone, the market is approaching a decisive moment that could define its next major move.
💡 An analysis of the Bitcoin chart on the 1H timeframe reveals a range structure forming just below a key supply zone. Notably, price has already experienced one rejection from this supply area.
✔️ In the primary and more probable scenario, price is expected to revisit and test lower demand levels before initiating a breakout above the supply zone. In the alternative scenario, a direct breakout through the supply level is anticipated without a prior pullback.
✔️ Under both scenarios, a move toward levels above $80K appears likely an event that has not occurred for this asset in recent months.
⚠️ It is important to emphasize that this analysis is based on ideal market conditions. Should geopolitical tensions in the Middle East escalate, a move toward lower price levels should be expected.
I look forward to hearing your thoughts ☺️
Sincerely;
Hossein Poursaei
💡 An analysis of the Bitcoin chart on the 1H timeframe reveals a range structure forming just below a key supply zone. Notably, price has already experienced one rejection from this supply area.
✔️ In the primary and more probable scenario, price is expected to revisit and test lower demand levels before initiating a breakout above the supply zone. In the alternative scenario, a direct breakout through the supply level is anticipated without a prior pullback.
✔️ Under both scenarios, a move toward levels above $80K appears likely an event that has not occurred for this asset in recent months.
⚠️ It is important to emphasize that this analysis is based on ideal market conditions. Should geopolitical tensions in the Middle East escalate, a move toward lower price levels should be expected.
I look forward to hearing your thoughts ☺️
Sincerely;
Hossein Poursaei
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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.