Bitcoin is currently testing a critical resistance zone between 107,150 and 107,800, which has previously acted as a strong supply area. For the bullish trend to continue, we need to see a daily close above this resistance range.
Until a confirmed breakout occurs, the price is vulnerable to a pullback toward the rising trendline, which has been supporting the uptrend since April.
📌 Key Points:
Strong horizontal resistance at 107,150–107,800
Rising wedge structure could signal exhaustion
A daily candle close above 107,800 is required for further upside continuation
Failure to break this resistance increases the probability of a correction toward the ascending trendline support
This is a critical area to monitor for both breakout traders and those looking for potential short-term reversal setups.
Until a confirmed breakout occurs, the price is vulnerable to a pullback toward the rising trendline, which has been supporting the uptrend since April.
📌 Key Points:
Strong horizontal resistance at 107,150–107,800
Rising wedge structure could signal exhaustion
A daily candle close above 107,800 is required for further upside continuation
Failure to break this resistance increases the probability of a correction toward the ascending trendline support
This is a critical area to monitor for both breakout traders and those looking for potential short-term reversal setups.
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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.