BitcoinShort
Personal Opinion
This is a technical analysis chart of the BTC/USD pair (Bitcoin against the US Dollar) on a 30-minute timeframe. Based on the lines and markings in the image:
1. Uptrend channel (blue diagonal lines):
• Bitcoin was moving in an uptrend within a channel, but it has broken out of it, potentially signaling a loss of upward momentum.
2. Support and resistance zones (orange and green lines):
• There is a significant support zone around $94,959. If the price breaks below this level, it could accelerate its decline.
• The key resistance levels are near $97,658 and $99,530. If the price bounces from the current support, it might attempt to reach these resistance levels.
3. Probable scenarios (yellow arrows):
• Bullish scenario: If the price holds the current support, it could start a rebound toward the upper resistance levels. This would be driven by buyers entering at key levels.
• Bearish scenario: If the price breaks below the $94,959 support, it is likely to see a more pronounced drop to lower levels (possibly around $94,000 or lower).
4. Intermediate level (white horizontal line):
• The $98,397 level seems to be a key area to watch as a potential pivot (it could act as resistance or support depending on the price action).
Summary
The next price movement will depend on whether Bitcoin holds the support at $94,959 or breaks it. Monitor trading volume and candlestick patterns at these key levels to confirm a potential trend reversal or continuation of the current movement.
1. Uptrend channel (blue diagonal lines):
• Bitcoin was moving in an uptrend within a channel, but it has broken out of it, potentially signaling a loss of upward momentum.
2. Support and resistance zones (orange and green lines):
• There is a significant support zone around $94,959. If the price breaks below this level, it could accelerate its decline.
• The key resistance levels are near $97,658 and $99,530. If the price bounces from the current support, it might attempt to reach these resistance levels.
3. Probable scenarios (yellow arrows):
• Bullish scenario: If the price holds the current support, it could start a rebound toward the upper resistance levels. This would be driven by buyers entering at key levels.
• Bearish scenario: If the price breaks below the $94,959 support, it is likely to see a more pronounced drop to lower levels (possibly around $94,000 or lower).
4. Intermediate level (white horizontal line):
• The $98,397 level seems to be a key area to watch as a potential pivot (it could act as resistance or support depending on the price action).
Summary
The next price movement will depend on whether Bitcoin holds the support at $94,959 or breaks it. Monitor trading volume and candlestick patterns at these key levels to confirm a potential trend reversal or continuation of the current movement.
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.