📈 Weekly Timeframe Analysis (1W)
Trend and Market Structure
🔹 Bitcoin remains in a long-term ascending trend channel, with resistance near $109,000 and support around $74,000.
🔹 The price is currently testing the mid-range of the channel, struggling to establish a clear breakout.
🔹 Declining volume suggests that selling pressure is fading, but buyers are not yet aggressive enough for a major rally.
Key Support and Resistance Levels (1W)
✅ Support Levels:
$74,975 – Lower boundary of the long-term trend channel.
$58,800 – Previous consolidation area and strong demand zone.
🚨 Resistance Levels:
$85,000 – $90,000 – Short-term resistance, breaking above could trigger strong upside momentum.
$100,000 – $109,000 – Long-term trend channel upper boundary and previous ATH resistance.
📉 Daily Timeframe Analysis (1D)
Trend and Market Structure
🔹 The daily chart shows a descending channel, where the price is forming lower highs and lower lows.
🔹 The $83,000-$85,000 area acts as a strong resistance zone; a breakout above this level is essential for a bullish confirmation.
🔹 Volume profile suggests strong liquidity around $75,000-$76,000, which may serve as a potential rebound zone.
Key Support and Resistance Levels (1D)
✅ Support Levels:
$74,975 – Long-term support and a potential buy zone.
$58,800 – Strong support level if Bitcoin undergoes a deeper correction.
🚨 Resistance Levels:
$85,000 – $90,000 – Short-term resistance; breaking above would signal further upside.
$100,000 – $109,000 – Psychological level and historical highs.
Bearish Scenario:
If BTC fails to sustain $74,000-$75,000, the next strong support is near $58,800.
✍️ Important Note: The above post provides general information and should not be considered specific investment advice. All investments carry high risk, especially in volatile cryptocurrency markets. Every investment decision should be based on thorough market analysis and an individual’s risk tolerance!
Trend and Market Structure
🔹 Bitcoin remains in a long-term ascending trend channel, with resistance near $109,000 and support around $74,000.
🔹 The price is currently testing the mid-range of the channel, struggling to establish a clear breakout.
🔹 Declining volume suggests that selling pressure is fading, but buyers are not yet aggressive enough for a major rally.
Key Support and Resistance Levels (1W)
✅ Support Levels:
$74,975 – Lower boundary of the long-term trend channel.
$58,800 – Previous consolidation area and strong demand zone.
🚨 Resistance Levels:
$85,000 – $90,000 – Short-term resistance, breaking above could trigger strong upside momentum.
$100,000 – $109,000 – Long-term trend channel upper boundary and previous ATH resistance.
📉 Daily Timeframe Analysis (1D)
Trend and Market Structure
🔹 The daily chart shows a descending channel, where the price is forming lower highs and lower lows.
🔹 The $83,000-$85,000 area acts as a strong resistance zone; a breakout above this level is essential for a bullish confirmation.
🔹 Volume profile suggests strong liquidity around $75,000-$76,000, which may serve as a potential rebound zone.
Key Support and Resistance Levels (1D)
✅ Support Levels:
$74,975 – Long-term support and a potential buy zone.
$58,800 – Strong support level if Bitcoin undergoes a deeper correction.
🚨 Resistance Levels:
$85,000 – $90,000 – Short-term resistance; breaking above would signal further upside.
$100,000 – $109,000 – Psychological level and historical highs.
Bearish Scenario:
If BTC fails to sustain $74,000-$75,000, the next strong support is near $58,800.
✍️ Important Note: The above post provides general information and should not be considered specific investment advice. All investments carry high risk, especially in volatile cryptocurrency markets. Every investment decision should be based on thorough market analysis and an individual’s risk tolerance!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.