๐น Mid-Term (1D) Analysis:
Trend and Patterns:
Falling Wedge lower touch โ A bullish reversal signal.
Breakdown of the previous Rising Wedge โ There was strong selling pressure in the past, but now signs of stabilization are emerging.
VWAP and Volume Profile โ Strong resistance is visible around $100,000.
Key trend reversal levels โ Support at $74,000โ76,500, while strong resistance lies between $90,000โ100,000.
๐น Key Levels:
Support: $74,500โ76,500
Resistance: $90,000โ94,000, then above $100,000
Mid-term target: $100,000โ108,000
๐น Mid-Term Forecast:
If Bitcoin successfully breaks out of the Falling Wedge and surpasses $90,000, the next target could be $100,000. However, if the $74,500 support level fails, further correction down to $72,000 or even $68,000 is possible.
โ๏ธ 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 individualโs risk tolerance!
Trend and Patterns:
Falling Wedge lower touch โ A bullish reversal signal.
Breakdown of the previous Rising Wedge โ There was strong selling pressure in the past, but now signs of stabilization are emerging.
VWAP and Volume Profile โ Strong resistance is visible around $100,000.
Key trend reversal levels โ Support at $74,000โ76,500, while strong resistance lies between $90,000โ100,000.
๐น Key Levels:
Support: $74,500โ76,500
Resistance: $90,000โ94,000, then above $100,000
Mid-term target: $100,000โ108,000
๐น Mid-Term Forecast:
If Bitcoin successfully breaks out of the Falling Wedge and surpasses $90,000, the next target could be $100,000. However, if the $74,500 support level fails, further correction down to $72,000 or even $68,000 is possible.
โ๏ธ 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 individualโs 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.