Looking at the candlestick chart, Bitcoin has formed a potential M-top or double top pattern, which is a typical top reversal signal. Currently, the price has broken below all short-term moving averages, indicating obvious weakness.
Yesterday, it is consistent with my analysis. BTC broke below the short-term support at 102,000, fell to around 100,000 where it found support and rebounded. However, this also showed an overall downward shift in the trend, with yesterday’s short-term support at 102,000 having turned into today’s resistance.
Overall, I predict that Bitcoin will continue its overall downward trend today. The short-term support is at 100,000, and a break below this level would target 98,000.
For resistance above, we still focus on 105,000 in the short term, with key attention on 108,000. Only a breakthrough and a firm hold above 108,000 could lead to sustained gains.
Buy 100,000 - 100,500
SL 99,000
TP 102,000 - 102,500 - 103,000
Sell 103,500 - 104,000
SL 104,500
TP 102,000 - 101,500 - 101,000
Yesterday, it is consistent with my analysis. BTC broke below the short-term support at 102,000, fell to around 100,000 where it found support and rebounded. However, this also showed an overall downward shift in the trend, with yesterday’s short-term support at 102,000 having turned into today’s resistance.
Overall, I predict that Bitcoin will continue its overall downward trend today. The short-term support is at 100,000, and a break below this level would target 98,000.
For resistance above, we still focus on 105,000 in the short term, with key attention on 108,000. Only a breakthrough and a firm hold above 108,000 could lead to sustained gains.
Buy 100,000 - 100,500
SL 99,000
TP 102,000 - 102,500 - 103,000
Sell 103,500 - 104,000
SL 104,500
TP 102,000 - 101,500 - 101,000
Сделка активна
BTC broke below 100,000 and rebounded after finding support above 99,000. Currently, it is repeatedly testing whether the support level around 100,000 is solid.Сделка закрыта: достигнута тейк-профит цена
BTC rebounded above 104,000 on Friday but then came under pressure and pulled back. It traded in a narrow range between 101,400 and 104,000 throughout Saturday, which also confirms the accuracy of our prediction about the resistance level at 105,000. Bitcoin can only see sustained gains if it breaks through 105,000 and stands firmly above 108,000.
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