Bitcoin is declining within a descending channel that I charted just over a day ago. The price action is following the projected path as anticipated.
Key Levels to Watch:
Primary Target Zone: $80,700 - $79,000
This is where I’m expecting the next potential bounce. Specifically, I’m watching for a sweep of the lows around $79,500 as a likely scenario.
Alternative Scenarios:
If we fail to find support in the $80,700-$79,000 range, the technical picture deteriorates significantly, with $55,000 becoming a realistic downside target.
There’s also the possibility of a shorter-term bounce occurring at the current local lows around $84,600-$84,800, though this seems less probable given the lack of buying pressure we’re seeing at these levels.
Timeline:
We have considerable time for this price action to develop and resolve, so there’s no immediate rush to判断 the final direction.
Base Case:
My primary expectation remains a move down to sweep the $80,000 level, with $79,500 as the most likely area where we see a meaningful reaction.
Key Levels to Watch:
Primary Target Zone: $80,700 - $79,000
This is where I’m expecting the next potential bounce. Specifically, I’m watching for a sweep of the lows around $79,500 as a likely scenario.
Alternative Scenarios:
If we fail to find support in the $80,700-$79,000 range, the technical picture deteriorates significantly, with $55,000 becoming a realistic downside target.
There’s also the possibility of a shorter-term bounce occurring at the current local lows around $84,600-$84,800, though this seems less probable given the lack of buying pressure we’re seeing at these levels.
Timeline:
We have considerable time for this price action to develop and resolve, so there’s no immediate rush to判断 the final direction.
Base Case:
My primary expectation remains a move down to sweep the $80,000 level, with $79,500 as the most likely area where we see a meaningful reaction.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.