🔍 BTC/USD 30-Minute Chart Analysis
📉 Market Structure:
The chart displays an ABCDE corrective pattern, likely a descending wedge or contracting triangle, which has now broken to the downside.
Price action shows a breakout below the wedge, leading to further bearish momentum.
The 200-period moving average (red line) is acting as resistance, reinforcing the downward trend.
📊 Current Price: ~$83,057
🔻 Bearish Target: $78,049 (marked as the potential support level)
🛑 Key Observations:
Rejection from wave E indicates a lack of bullish strength.
Lower highs and lower lows confirm a continuation of the bearish trend.
Potential retest of ~$85,000 before dropping further.
🚀 Trading Insights:
Bearish Bias: Short opportunities on pullbacks toward resistance.
Bullish Reversal? Look for price action near $78,049—if buyers step in, a potential bounce could occur.
⚠️ Watch out for:
Sudden Bitcoin volatility (news-driven moves).
A fake breakdown (if buyers reclaim above ~$85,000).
📉 Market Structure:
The chart displays an ABCDE corrective pattern, likely a descending wedge or contracting triangle, which has now broken to the downside.
Price action shows a breakout below the wedge, leading to further bearish momentum.
The 200-period moving average (red line) is acting as resistance, reinforcing the downward trend.
📊 Current Price: ~$83,057
🔻 Bearish Target: $78,049 (marked as the potential support level)
🛑 Key Observations:
Rejection from wave E indicates a lack of bullish strength.
Lower highs and lower lows confirm a continuation of the bearish trend.
Potential retest of ~$85,000 before dropping further.
🚀 Trading Insights:
Bearish Bias: Short opportunities on pullbacks toward resistance.
Bullish Reversal? Look for price action near $78,049—if buyers step in, a potential bounce could occur.
⚠️ Watch out for:
Sudden Bitcoin volatility (news-driven moves).
A fake breakdown (if buyers reclaim above ~$85,000).
Trade active
Trade closed: target reached
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Disclaimer
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JOIN MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.