Bitcoin is currently trading within a well-defined ascending channel on the 12H timeframe, showing a steady recovery structure since the February lows. Price has now pushed into a critical confluence zone that could determine the next major move.
Key Points:
- Price is testing the 0.5 Fibonacci retracement (~79.1K), aligning closely with the upper boundary of the rising channel.
- A potential lower high / distribution structure is forming at resistance (highlighted zone), suggesting weakening bullish momentum.
- The broader structure resembles a rising wedge, which is typically a bearish continuation pattern—especially following a strong prior downtrend.
- Volume profile on the right shows a low-volume node below current price, indicating a potential fast move if price breaks down.
- Rejection from the 0.5 Fib + channel resistance could trigger a move toward the 70K–72K range (value area support).
- A breakdown of the channel would likely accelerate selling into lower liquidity zones.
Cheers
Hexa
Key Points:
- Price is testing the 0.5 Fibonacci retracement (~79.1K), aligning closely with the upper boundary of the rising channel.
- A potential lower high / distribution structure is forming at resistance (highlighted zone), suggesting weakening bullish momentum.
- The broader structure resembles a rising wedge, which is typically a bearish continuation pattern—especially following a strong prior downtrend.
- Volume profile on the right shows a low-volume node below current price, indicating a potential fast move if price breaks down.
- Rejection from the 0.5 Fib + channel resistance could trigger a move toward the 70K–72K range (value area support).
- A breakdown of the channel would likely accelerate selling into lower liquidity zones.
Cheers
Hexa
🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
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🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Похожие публикации
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.