Bitcoin is approaching a major trendline resistance after a strong rally.
At this stage, I see two possible scenarios:
1️⃣ Scenario 1 (More Likely):
Price could reject from this resistance zone, triggering a pullback toward the lower blue trendline support. This move would sweep liquidity, reset the market, and set up the next bullish leg.
2️⃣ Scenario 2:
If bulls manage to break above the resistance without a deeper pullback, we could see a continuation toward new all-time highs around 114k.
However, given the extended rally and weakening momentum, a correction first seems more natural.
⚡ I'm watching for reaction around the resistance and the orange zones for confirmation.
Patience is key — no need to chase!
At this stage, I see two possible scenarios:
1️⃣ Scenario 1 (More Likely):
Price could reject from this resistance zone, triggering a pullback toward the lower blue trendline support. This move would sweep liquidity, reset the market, and set up the next bullish leg.
2️⃣ Scenario 2:
If bulls manage to break above the resistance without a deeper pullback, we could see a continuation toward new all-time highs around 114k.
However, given the extended rally and weakening momentum, a correction first seems more natural.
⚡ I'm watching for reaction around the resistance and the orange zones for confirmation.
Patience is key — no need to chase!
📊 Free Telegram Channel (No signals — just pure analysis & trade ideas):
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🎯 Interested in 1-on-1 Mentorship?
Let’s talk: t.me/MoeErekat
🔗 t.me/moe_erekat
🎯 Interested in 1-on-1 Mentorship?
Let’s talk: t.me/MoeErekat
Related publications
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.
📊 Free Telegram Channel (No signals — just pure analysis & trade ideas):
🔗 t.me/moe_erekat
🎯 Interested in 1-on-1 Mentorship?
Let’s talk: t.me/MoeErekat
🔗 t.me/moe_erekat
🎯 Interested in 1-on-1 Mentorship?
Let’s talk: t.me/MoeErekat
Related publications
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.