Support & Resistance Levels:
R1: ~106,300
R2: ~109,000
R3: ~111,600
S1: ~102,800
S2: ~100,000
Bearish RSI Divergence
Price made higher highs earlier (around June 10-11).
RSI made lower highs, indicating bearish divergence.
Price Action
BTC bounced back from below S1 (~102,800) and is now hovering around R1 (~106,300).
If it breaks and sustains above R1, we could see a move toward R2 (109k).
However, failure at R1 can lead to a pullback to S1 or S2 levels.
Strategy Suggestions:
📌 If Bullish:
Wait for a clean breakout above R1 (~106,300) with volume.
Potential targets: R2 (109k) and R3 (111.6k).
📌 If Bearish:
If price fails to hold R1 and rejects, consider short opportunities.
Targets would be: S1 (102.8k) and S2 (100k).
Keep an eye on RSI — if it forms another divergence or crosses down the MA, bearish bias increases.
⚠️ Risk Factors:
BTC is still within a consolidation range between R1 and S1.
No clear breakout yet; be cautious with position sizing.
Watch for macroeconomic news/events, as they can spike volatility.
R1: ~106,300
R2: ~109,000
R3: ~111,600
S1: ~102,800
S2: ~100,000
Bearish RSI Divergence
Price made higher highs earlier (around June 10-11).
RSI made lower highs, indicating bearish divergence.
Price Action
BTC bounced back from below S1 (~102,800) and is now hovering around R1 (~106,300).
If it breaks and sustains above R1, we could see a move toward R2 (109k).
However, failure at R1 can lead to a pullback to S1 or S2 levels.
Strategy Suggestions:
📌 If Bullish:
Wait for a clean breakout above R1 (~106,300) with volume.
Potential targets: R2 (109k) and R3 (111.6k).
📌 If Bearish:
If price fails to hold R1 and rejects, consider short opportunities.
Targets would be: S1 (102.8k) and S2 (100k).
Keep an eye on RSI — if it forms another divergence or crosses down the MA, bearish bias increases.
⚠️ Risk Factors:
BTC is still within a consolidation range between R1 and S1.
No clear breakout yet; be cautious with position sizing.
Watch for macroeconomic news/events, as they can spike volatility.
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.