Hello, traders! The prior market structure for BTCUSD shows a clear downward trend, structured between a strong supply zone around the 114,000 level and a demand zone near 104,000. Price action continues to respect these boundaries, forming a broad horizontal range after multiple breakouts and retests.
Currently, the market is trading near the upper boundary of the range, where the price has once again tested the supply zone and the descending supply line. Each of these levels has historically acted as strong resistance, producing several pivot points and rejections in recent sessions. After the latest retest of this area, BTCUSD is showing signs of renewed selling pressure. The inability to break above the supply level suggests that sellers are still dominating the market, and the structure remains bearish.
My scenario assumes a continuation of the downward movement within the range. In my opinion, the next likely development is a rotation from the 109,500–110,000 area down to the 107,700 pivot point, and potentially toward the lower demand line near 104,000 if bearish momentum accelerates. Manage your risk!
Currently, the market is trading near the upper boundary of the range, where the price has once again tested the supply zone and the descending supply line. Each of these levels has historically acted as strong resistance, producing several pivot points and rejections in recent sessions. After the latest retest of this area, BTCUSD is showing signs of renewed selling pressure. The inability to break above the supply level suggests that sellers are still dominating the market, and the structure remains bearish.
My scenario assumes a continuation of the downward movement within the range. In my opinion, the next likely development is a rotation from the 109,500–110,000 area down to the 107,700 pivot point, and potentially toward the lower demand line near 104,000 if bearish momentum accelerates. Manage your risk!
İşlem elle kapatılmış
Sellers were unable to maintain dominance and push the price to the support line.
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Feragatname
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🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.