Hello traders, I want share with you my opinion about Bitcoin. The market structure for Bitcoin has turned decidedly bearish in the short term, following a significant breakdown from its recent triangle consolidation pattern. This corrective phase began after a failed rally to a new all-time high near 126000, which led to a prolonged and volatile period of price action, including a sharp drop to 102000. Currently, following the resolution of the recent triangle to the downside, the price of BTC is in a clear downward movement. In my mind, this final decline is a capitulation move that is heading towards a major area of historical support. I expect that the price will fall into the main buyer zone. I think that a strong and confirmed reversal from this zone will signal that the entire corrective phase is complete and that buyers are ready to re-take control for the next major trend. This would present a significant long opportunity. Therefore, I have placed my TP for this reversal scenario at the 116000 level, targeting a key area of prior price action and a logical first objective for a new rally. Please share this idea with your friends and click Boost 🚀
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Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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Bitcoin dropped to the support level, but not into the buying zone as I expected. In any case, I expect the price to trade in consolidation for some time and then continue to rise towards my TP in the region of 116000.
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💰Want receive more profitable signals for Crypto & Forex market, write me PM 👉 bit.ly/4fNijD8
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これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。