In my previous analysis, I highlighted the $73.8k region as a critical support zone that could determine Bitcoin's next major move. Price has now reached that level, and buyers have stepped in exactly where expected.
After breaking down from the ascending channel, BTC has spent the last few sessions correcting lower. However, the recent reaction from support suggests that demand is still present and bears are struggling to push the price lower.
At the moment, Bitcoin is trading at a very important decision point.
If support continues to hold, we could see a relief rally toward higher resistance levels. On the other hand, a loss of this support would likely trigger another wave of selling toward the next major demand area.
Key Levels
Support:
$73,800
Major Support:
$70,800
Resistance:
$75,500
Major Resistance:
$80,500
Bullish Target:
$86,300
What I'm Watching
• Continued defense of the $73.8k support zone
• RSI recovery from oversold conditions
• Breakout above the descending trendline
• Reclaim of $75.5k as confirmation of bullish momentum
The support is holding exactly where expected. Now the focus shifts to whether buyers can build enough momentum for a move back toward higher levels.
NFA | DYOR
After breaking down from the ascending channel, BTC has spent the last few sessions correcting lower. However, the recent reaction from support suggests that demand is still present and bears are struggling to push the price lower.
At the moment, Bitcoin is trading at a very important decision point.
If support continues to hold, we could see a relief rally toward higher resistance levels. On the other hand, a loss of this support would likely trigger another wave of selling toward the next major demand area.
Key Levels
Support:
$73,800
Major Support:
$70,800
Resistance:
$75,500
Major Resistance:
$80,500
Bullish Target:
$86,300
What I'm Watching
• Continued defense of the $73.8k support zone
• RSI recovery from oversold conditions
• Breakout above the descending trendline
• Reclaim of $75.5k as confirmation of bullish momentum
The support is holding exactly where expected. Now the focus shifts to whether buyers can build enough momentum for a move back toward higher levels.
NFA | DYOR
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Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.