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What are your thoughts on Bitcoin ?
Bitcoin is currently trading around $81,500. After several attempts to move higher, the price faced selling pressure in the $86,000–$87,700 resistance zone. Despite the previous bullish advance, price action has weakened, and Bitcoin has broken below its ascending trendline, suggesting that bullish momentum is fading.
In the short term, we expect Bitcoin to stage a corrective rebound toward the $83,500–$84,430 resistance zone. This area aligns with the 0.5 and 0.618 Fibonacci retracement levels and could act as a significant resistance zone.
As the price returns to this area, we expect a potential rejection and renewed selling pressure as sellers re-enter the market. If selling pressure intensifies, Bitcoin could resume its downward move, initially targeting $77,800, followed by the $75,000 zone.
As long as Bitcoin remains below the resistance zone (marked by the red rectangle), the overall market bias remains bearish, with further downside potential.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
What are your thoughts on Bitcoin ?
Bitcoin is currently trading around $81,500. After several attempts to move higher, the price faced selling pressure in the $86,000–$87,700 resistance zone. Despite the previous bullish advance, price action has weakened, and Bitcoin has broken below its ascending trendline, suggesting that bullish momentum is fading.
In the short term, we expect Bitcoin to stage a corrective rebound toward the $83,500–$84,430 resistance zone. This area aligns with the 0.5 and 0.618 Fibonacci retracement levels and could act as a significant resistance zone.
As the price returns to this area, we expect a potential rejection and renewed selling pressure as sellers re-enter the market. If selling pressure intensifies, Bitcoin could resume its downward move, initially targeting $77,800, followed by the $75,000 zone.
As long as Bitcoin remains below the resistance zone (marked by the red rectangle), the overall market bias remains bearish, with further downside potential.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
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✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
関連の投稿
免責事項
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。