BTC/USD – Technical Outlook
Bias: Bearish
BTC/USD has completed the ABCD pattern and is now printing lower highs and lower lows, confirming a shift in market structure to bearish.
Price is currently retesting a previous support, now turned resistance. If this level holds, it could open the door for continued downside; with the 68K–50K zone as a potential BTD (buy-the-dip) area.
TARGET 1 (78K):
A key structural zone. A clean break and close below this level would confirm bearish momentum and increase the likelihood of price falling.
TARGET 2 (66K):
Likely to act as a magnet; a previous resistance turned support that launched price toward 100K. A return here would retest the foundation of the previous rally to 100k.
TARGET 3 (50K):
From a fractal and psychological standpoint, double tops often retrace to the origin of the bullish move. In this case, around the 50K zone.
Invalidation:
A reclaim of 85K–90K would shift bias back to bullish, signalling potential for upside momentum.
Bias: Bearish
BTC/USD has completed the ABCD pattern and is now printing lower highs and lower lows, confirming a shift in market structure to bearish.
Price is currently retesting a previous support, now turned resistance. If this level holds, it could open the door for continued downside; with the 68K–50K zone as a potential BTD (buy-the-dip) area.
TARGET 1 (78K):
A key structural zone. A clean break and close below this level would confirm bearish momentum and increase the likelihood of price falling.
TARGET 2 (66K):
Likely to act as a magnet; a previous resistance turned support that launched price toward 100K. A return here would retest the foundation of the previous rally to 100k.
TARGET 3 (50K):
From a fractal and psychological standpoint, double tops often retrace to the origin of the bullish move. In this case, around the 50K zone.
Invalidation:
A reclaim of 85K–90K would shift bias back to bullish, signalling potential for upside momentum.
Note
Bias: BullishReclaimed 85k and we are now pushing towards 90k resistance, as long as we hold above these levels we could see new highs.
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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.