Bitcoin is currently trading inside a descending channel, with price consolidating in a small range. A breakout from this zone could trigger a strong bullish move toward the upper boundary of the channel.
🔹 Key Observations:
BTC is trading within a well-defined downward channel.
Current Consolidation: A small range has formed, suggesting a potential buildup before a breakout.
Target Projection: If price breaks out, we could see a move toward the 90,790 level, aligning with the upper trendline.
📈 Bullish Scenario:
A breakout above the consolidation area may lead to a push toward 90,790.
Confirmation of strength will be needed above resistance levels.
🔻 Bearish Risk:
If rejection happens at resistance, BTC may continue downward within the channel.
💡 Key Levels to Watch:
Resistance Target: 90,790
Current Support: 82,500
Will BTC break out of the downtrend, or will the channel continue to hold? Let’s discuss below! 📊🔥
🔹 Key Observations:
BTC is trading within a well-defined downward channel.
Current Consolidation: A small range has formed, suggesting a potential buildup before a breakout.
Target Projection: If price breaks out, we could see a move toward the 90,790 level, aligning with the upper trendline.
📈 Bullish Scenario:
A breakout above the consolidation area may lead to a push toward 90,790.
Confirmation of strength will be needed above resistance levels.
🔻 Bearish Risk:
If rejection happens at resistance, BTC may continue downward within the channel.
💡 Key Levels to Watch:
Resistance Target: 90,790
Current Support: 82,500
Will BTC break out of the downtrend, or will the channel continue to hold? Let’s discuss below! 📊🔥
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.