Hi Teams!
Bitcoin has recently completed a three-drive pattern while also showing a clear bearish divergence on the RSI. This confluence has led to a strong rejection from the third drive area, confirming short-term weakness.
The three-drive trendline was broken last night, signaling that the bullish momentum has temporarily cooled down. However, as long as $97,900 remains unbroken, the bullish structure can still hold.
Here’s the current plan:
Key support zone: $108,600; this looks like a good potential long entry area if the price stabilizes and shows confirmation.
Upside target: around $118,045, which also aligns with the previous swing high.
Invalidation: if the price breaks below $97,900, the setup turns bearish, and we can expect deeper retracements toward the $86,500–$88,000 region.
In short, BTC is at a critical decision point, holding above $97,900 keeps the bullish structure intact, but a breakdown below that level could shift the market sentiment sharply bearish.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
Bitcoin has recently completed a three-drive pattern while also showing a clear bearish divergence on the RSI. This confluence has led to a strong rejection from the third drive area, confirming short-term weakness.
The three-drive trendline was broken last night, signaling that the bullish momentum has temporarily cooled down. However, as long as $97,900 remains unbroken, the bullish structure can still hold.
Here’s the current plan:
Key support zone: $108,600; this looks like a good potential long entry area if the price stabilizes and shows confirmation.
Upside target: around $118,045, which also aligns with the previous swing high.
Invalidation: if the price breaks below $97,900, the setup turns bearish, and we can expect deeper retracements toward the $86,500–$88,000 region.
In short, BTC is at a critical decision point, holding above $97,900 keeps the bullish structure intact, but a breakdown below that level could shift the market sentiment sharply bearish.
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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🟢 Telegram channel: t.me/melikatrader94
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avatrade.com/trading-account?p=Webtrader&tag=220256
-----------------
🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน