Chart Pattern
The chart displays range-bound trading between key levels of $91,535.66 (support) and $95,752.48 (resistance).
A recent pullback from the upper resistance indicates potential consolidation before the next significant price movement.
Key Insights
1.Current Price Action
Bitcoin is trading near $94,181.41, below the immediate resistance zone of $95,752.48.
The price has been rejected multiple times at the upper resistance, signaling a strong supply zone.
2. Potential Breakdown Scenario
If BTC breaks the $91,535.66 support, the next potential downside target could be $90,000 or lower.
Volume confirmation and momentum indicators would be crucial for validating a downward continuation.
3.Bullish Reversal Possibility
If BTC holds above $91,500, it may bounce back to test $95,750 again.
A breakout above $95,750 could target higher levels, with $100,000 being the psychological resistance.
Trading Plan
Bearish Setup
Short below $91,500 with a target of $89,500–$90,000.
Bullish Setup
Long above $95,750, targeting $98,000–$100,000.
Market Sentiment
Neutral to Bearish, Caution is advised until clear breakout/breakdown confirmation is observed.
The market remains unstable, with both upside and downside risks. Stay alert for macroeconomic news and BTC dominance trends.
The chart displays range-bound trading between key levels of $91,535.66 (support) and $95,752.48 (resistance).
A recent pullback from the upper resistance indicates potential consolidation before the next significant price movement.
Key Insights
1.Current Price Action
Bitcoin is trading near $94,181.41, below the immediate resistance zone of $95,752.48.
The price has been rejected multiple times at the upper resistance, signaling a strong supply zone.
2. Potential Breakdown Scenario
If BTC breaks the $91,535.66 support, the next potential downside target could be $90,000 or lower.
Volume confirmation and momentum indicators would be crucial for validating a downward continuation.
3.Bullish Reversal Possibility
If BTC holds above $91,500, it may bounce back to test $95,750 again.
A breakout above $95,750 could target higher levels, with $100,000 being the psychological resistance.
Trading Plan
Bearish Setup
Short below $91,500 with a target of $89,500–$90,000.
Bullish Setup
Long above $95,750, targeting $98,000–$100,000.
Market Sentiment
Neutral to Bearish, Caution is advised until clear breakout/breakdown confirmation is observed.
The market remains unstable, with both upside and downside risks. Stay alert for macroeconomic news and BTC dominance trends.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.