📉 BTCUSD – Key Technical Breakdown on the Horizon?
Bitcoin is currently testing a critical confluence zone — the weekly trendline support and cup & handle neckline around the $82,000-$84,000 range. A confirmed breakdown below this level could validate the bearish pattern, potentially opening the door for deeper retracements toward the $68,000 and even $52,000 zones.
🔍 Technical Highlights:
Potential Cup & Handle formation in play with neckline retest.
Weekly ascending channel acting as major dynamic support.
Monthly horizontal support at $68K could be the next key level if neckline breaks.
🌍 Fundamental Context:
Bitcoin faces macroeconomic headwinds with rising U.S. interest rate expectations and regulatory uncertainties.
On the bullish side, institutional demand and spot ETF flows remain strong, possibly cushioning downside moves.
Market awaits key data from the Fed and CPI release — volatility likely ahead.
📌 Watching for a decisive daily close below the neckline for confirmation. Alternatively, a strong bounce from this zone could invalidate the pattern and push price back toward the $95K region.
📊 Stay cautious and manage risk — structure is everything in this phase.
#Bitcoin #BTCUSD #CryptoAnalysis #TechnicalAnalysis #Fundamentals #CryptoTrading #CupAndHandle #PriceAction #TradingView
Bitcoin is currently testing a critical confluence zone — the weekly trendline support and cup & handle neckline around the $82,000-$84,000 range. A confirmed breakdown below this level could validate the bearish pattern, potentially opening the door for deeper retracements toward the $68,000 and even $52,000 zones.
🔍 Technical Highlights:
Potential Cup & Handle formation in play with neckline retest.
Weekly ascending channel acting as major dynamic support.
Monthly horizontal support at $68K could be the next key level if neckline breaks.
🌍 Fundamental Context:
Bitcoin faces macroeconomic headwinds with rising U.S. interest rate expectations and regulatory uncertainties.
On the bullish side, institutional demand and spot ETF flows remain strong, possibly cushioning downside moves.
Market awaits key data from the Fed and CPI release — volatility likely ahead.
📌 Watching for a decisive daily close below the neckline for confirmation. Alternatively, a strong bounce from this zone could invalidate the pattern and push price back toward the $95K region.
📊 Stay cautious and manage risk — structure is everything in this phase.
#Bitcoin #BTCUSD #CryptoAnalysis #TechnicalAnalysis #Fundamentals #CryptoTrading #CupAndHandle #PriceAction #TradingView
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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.