Hello Traders! 👋
What are your thoughts on Bitcoin ?
On the daily timeframe, Bitcoin has entered a consolidation phase after a bullish rally, forming a clear Rising Wedge pattern. Classically, this structure indicates a gradual exhaustion of buying momentum at higher levels, signaling a potential trend reversal or a deep correction.
Price is approaching a critical resistance cluster between $82,000 and $84,000.
This red supply box aligns perfectly with the 0.618 Fibonacci retracement level, creating a significant technical and psychological barrier.
Based on the current price action, we expect one final push toward the pattern's ceiling near $83,000. Upon reaching this liquidity-rich zone, a strong reaction from sellers is anticipated, likely triggering the start of a corrective phase.
We are approaching a major decision point for Bitcoin. Given the overbought conditions and the wedge structure, opening new Long positions at the top of this pattern offers a poor risk-to-reward ratio. We remain patient, looking for confirmed reversal signals within the supply zone before considering the next move.
Feel free to like and share your thoughts in the comments! ❤️
What are your thoughts on Bitcoin ?
On the daily timeframe, Bitcoin has entered a consolidation phase after a bullish rally, forming a clear Rising Wedge pattern. Classically, this structure indicates a gradual exhaustion of buying momentum at higher levels, signaling a potential trend reversal or a deep correction.
Price is approaching a critical resistance cluster between $82,000 and $84,000.
This red supply box aligns perfectly with the 0.618 Fibonacci retracement level, creating a significant technical and psychological barrier.
Based on the current price action, we expect one final push toward the pattern's ceiling near $83,000. Upon reaching this liquidity-rich zone, a strong reaction from sellers is anticipated, likely triggering the start of a corrective phase.
We are approaching a major decision point for Bitcoin. Given the overbought conditions and the wedge structure, opening new Long positions at the top of this pattern offers a poor risk-to-reward ratio. We remain patient, looking for confirmed reversal signals within the supply zone before considering the next move.
Feel free to like and share your thoughts in the comments! ❤️
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✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅MY INSTAGRAM:
instagram.com/marketanalaysis
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。