📊 Bitcoin Technical Analysis
🟩 Overview
Asset: Bitcoin (BTC/USD)
Current Price Action: Approaching or testing the $108,000 resistance zone.
Chart Type: Candlestick
Indicators Present: Trendline, horizontal resistance zone, potential retracement projection.
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🔍 Key Observations
1. Major Resistance at $108,000
Price has rallied into a well-defined horizontal resistance zone, shown with a red rectangle.
This level has historical significance — likely a previous high or congestion area.
Multiple rejections around this level could signal weakening bullish momentum.
2. Bearish Projection
The blue dashed line suggests a retracement scenario:
Initial support zone: ~$104,000
Deeper pullback target: ~$102,000
This implies a short- to medium-term bearish outlook if bulls fail to break and hold above $108,000.
3. Trendline & Structure
The chart does not show a strong upward continuation pattern like a bull flag or breakout.
Instead, it looks like a rising wedge or exhaustion pattern nearing completion.
4. No Indicators Visible (e.g., RSI, MACD)
It’s harder to confirm overbought/oversold conditions or divergences, but the price action alone suggests hesitation and potential reversal.
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⚖ Conclusion: Bullish or Bearish?
Bias Justification
🟥 Bearish - Price struggling at $108K resistance<br>- Bearish projection marked<br>- No breakout confirmation<br>- Risk of profit-taking at highs
🟩 Bullish - Only if $108K is broken convincingly with volume and follow-through<br>- Retest and hold above $108K could invalidate reversal setup
🟩 Overview
Asset: Bitcoin (BTC/USD)
Current Price Action: Approaching or testing the $108,000 resistance zone.
Chart Type: Candlestick
Indicators Present: Trendline, horizontal resistance zone, potential retracement projection.
---
🔍 Key Observations
1. Major Resistance at $108,000
Price has rallied into a well-defined horizontal resistance zone, shown with a red rectangle.
This level has historical significance — likely a previous high or congestion area.
Multiple rejections around this level could signal weakening bullish momentum.
2. Bearish Projection
The blue dashed line suggests a retracement scenario:
Initial support zone: ~$104,000
Deeper pullback target: ~$102,000
This implies a short- to medium-term bearish outlook if bulls fail to break and hold above $108,000.
3. Trendline & Structure
The chart does not show a strong upward continuation pattern like a bull flag or breakout.
Instead, it looks like a rising wedge or exhaustion pattern nearing completion.
4. No Indicators Visible (e.g., RSI, MACD)
It’s harder to confirm overbought/oversold conditions or divergences, but the price action alone suggests hesitation and potential reversal.
---
⚖ Conclusion: Bullish or Bearish?
Bias Justification
🟥 Bearish - Price struggling at $108K resistance<br>- Bearish projection marked<br>- No breakout confirmation<br>- Risk of profit-taking at highs
🟩 Bullish - Only if $108K is broken convincingly with volume and follow-through<br>- Retest and hold above $108K could invalidate reversal setup
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Join telegram channel free ..
t.me/+zOlIssFOXrtlNWE0
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit ..
t.me/+zOlIssFOXrtlNWE0
t.me/+zOlIssFOXrtlNWE0
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
Gold Signal's with proper TP & SL for high profit ..
t.me/+zOlIssFOXrtlNWE0
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.