The chart you've shared is a daily (1D) Bitcoin (BTC/USD) price chart on the Bitstamp exchange, with the current price at approximately $99,619 as of May 8, 2025. Here's a breakdown of the details:
Key Elements:
1. Support and Resistance Zones (Yellow Rectangles):
Support Zone: Around $70,000 to $80,000.
Mid Resistance Zone: Around $90,000 to $95,000.
Major Resistance Zone: Around $105,000 to $115,000.
2. Trend Analysis:
BTC has broken above the mid resistance zone (~$95,000), which may now act as support.
A bullish trend is indicated with upward momentum continuing.
3. Arrows (Forecast Paths):
The first blue arrow shows a continued upward trajectory, likely targeting the major resistance zone around $110,000.
The second curved arrow suggests a possible short-term pullback or consolidation after reaching that level.
4. Volume Indicator:
The volume appears steady, which could support a gradual price movement rather than a sharp spike or drop.
Summary:
This chart indicates a bullish breakout from consolidation with a potential move toward $110,000. However, the area marked around $105,000–$115,000 is a key resistance zone where selling pressure might appear.
Would you like an updated forecast or technical analysis for Bitcoin based on current market data?
Key Elements:
1. Support and Resistance Zones (Yellow Rectangles):
Support Zone: Around $70,000 to $80,000.
Mid Resistance Zone: Around $90,000 to $95,000.
Major Resistance Zone: Around $105,000 to $115,000.
2. Trend Analysis:
BTC has broken above the mid resistance zone (~$95,000), which may now act as support.
A bullish trend is indicated with upward momentum continuing.
3. Arrows (Forecast Paths):
The first blue arrow shows a continued upward trajectory, likely targeting the major resistance zone around $110,000.
The second curved arrow suggests a possible short-term pullback or consolidation after reaching that level.
4. Volume Indicator:
The volume appears steady, which could support a gradual price movement rather than a sharp spike or drop.
Summary:
This chart indicates a bullish breakout from consolidation with a potential move toward $110,000. However, the area marked around $105,000–$115,000 is a key resistance zone where selling pressure might appear.
Would you like an updated forecast or technical analysis for Bitcoin based on current market data?
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
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.
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
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.