Bitcoin is currently trading around $101,210, having failed to reclaim the $102,500 support zone, which has now flipped into resistance.
This rejection confirms continued bearish momentum, as reflected in the downward-trending EMA.
The next major area of interest lies between $96,000 and $95,000, where buyers previously stepped in. The chart suggests a probable move lower into this zone, followed by a potential bounce.
Unless BTC reclaims $102,500 with strong conviction, the short-term bias remains bearish, with traders eyeing the lower support for possible reversal or accumulation.
This rejection confirms continued bearish momentum, as reflected in the downward-trending EMA.
The next major area of interest lies between $96,000 and $95,000, where buyers previously stepped in. The chart suggests a probable move lower into this zone, followed by a potential bounce.
Unless BTC reclaims $102,500 with strong conviction, the short-term bias remains bearish, with traders eyeing the lower support for possible reversal or accumulation.
Trade active
Trade got activated when price got rejected at $102500 zone once moreTrade closed: stop reached
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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.