BTC/USD has been rejected at the resistance zone of $85,148-$85,714, which aligns with a descending trendline, signaling potential bearish momentum. The price is currently testing an ascending trendline from $74,000.
Analysis
The rejection at $85,148-$85,714, combined with the descending trendline, indicates strong selling pressure at this level.
The ascending trendline is providing support, but a break below it could lead to a move toward lower support levels.
A break above the resistance zone would invalidate the bearish setup and suggest potential bullish continuation.
Key Levels to Watch
Resistance: $85,148-$85,714
Support: Around $81,410
Ascending trendline: A break below is an extra confirmation for bearish momentum.
Rationale
The confluence of the resistance zone and the descending trendline marks a critical decision point. The recent rejection strengthens the bearish outlook, but the ascending trendline remains a pivotal factor for the next move.
Analysis
The rejection at $85,148-$85,714, combined with the descending trendline, indicates strong selling pressure at this level.
The ascending trendline is providing support, but a break below it could lead to a move toward lower support levels.
A break above the resistance zone would invalidate the bearish setup and suggest potential bullish continuation.
Key Levels to Watch
Resistance: $85,148-$85,714
Support: Around $81,410
Ascending trendline: A break below is an extra confirmation for bearish momentum.
Rationale
The confluence of the resistance zone and the descending trendline marks a critical decision point. The recent rejection strengthens the bearish outlook, but the ascending trendline remains a pivotal factor for the next move.
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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.
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.