Hello Traders! 👋
What are your thoughts on Bitcoin ?
Bitcoin remains within its broader bearish market structure, with price continuing to trade below the long-term descending trendline. After finding support around $58,000, buyers managed to trigger a temporary rebound. However, the current recovery still appears to be corrective rather than the start of a new bullish trend.
The corrective rally is expected to extend toward the $70,000–$73,300 resistance zone, where the long-term descending trendline converges with the 50% and 61.8% Fibonacci retracement levels, forming a major technical resistance area.
As long as price remains below this resistance cluster, the primary outlook stays bearish. A rejection from this zone is expected to initiate the next bearish leg, potentially driving Bitcoin toward a new swing low around $48,000.
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 remains within its broader bearish market structure, with price continuing to trade below the long-term descending trendline. After finding support around $58,000, buyers managed to trigger a temporary rebound. However, the current recovery still appears to be corrective rather than the start of a new bullish trend.
The corrective rally is expected to extend toward the $70,000–$73,300 resistance zone, where the long-term descending trendline converges with the 50% and 61.8% Fibonacci retracement levels, forming a major technical resistance area.
As long as price remains below this resistance cluster, the primary outlook stays bearish. A rejection from this zone is expected to initiate the next bearish leg, potentially driving Bitcoin toward a new swing low around $48,000.
If you found this analysis helpful, please support it with a like and share your thoughts in the comments! Good luck with your trades!❤️
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.