Btcusd has raised its local peak to 97,900, and while
the market structure is generally favorable, it is
still reliant on the S&P 500's performance and
fundamental background.
The improvement in the US tariff situation and
the relationship with China are the main factors
that contributed to the development. As the
SP500 index, with which Bitcoin has a fairly
good connection, increased, so did Bitcoin's
growth. The price broke out of the two-week
consolidation in the second half of this week,
upgrading the local maximum and breaking
over the 95,500 resistance level. It is producing
a correction in the local upward channel.
The liquidity and risk zone is 95,000. In other
words, Bitcoin will keep rising in the near and
medium term if the bulls maintain their defense
above 95K throughout the retest. If not, a 95K
pause might cause a decline to 92K-88K.
The 95.5K support level, below which a sizable
liquidity pool has developed, is the focus of all
attention. A retest (false breakout of support)
and an imbalance of market forces can both
impact growth. However, since the market will
respond to economic data, we must exercise
caution. However! The inability to continue
growing and a return of prices to the selling
zone (below 95000 to 95500) may lead to a
correction and liquidation.
the market structure is generally favorable, it is
still reliant on the S&P 500's performance and
fundamental background.
The improvement in the US tariff situation and
the relationship with China are the main factors
that contributed to the development. As the
SP500 index, with which Bitcoin has a fairly
good connection, increased, so did Bitcoin's
growth. The price broke out of the two-week
consolidation in the second half of this week,
upgrading the local maximum and breaking
over the 95,500 resistance level. It is producing
a correction in the local upward channel.
The liquidity and risk zone is 95,000. In other
words, Bitcoin will keep rising in the near and
medium term if the bulls maintain their defense
above 95K throughout the retest. If not, a 95K
pause might cause a decline to 92K-88K.
The 95.5K support level, below which a sizable
liquidity pool has developed, is the focus of all
attention. A retest (false breakout of support)
and an imbalance of market forces can both
impact growth. However, since the market will
respond to economic data, we must exercise
caution. However! The inability to continue
growing and a return of prices to the selling
zone (below 95000 to 95500) may lead to a
correction and liquidation.
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.