bitcoin daily
This update provides a brief yet comprehensive analysis of Bitcoin (BTC/USD), focusing on recent price movements, key support levels, and potential scenarios for the weekend.
Analysis:
Recent Bounce:
BTC recently bounced from $60,500.
However, it is still trading below the $63,000 level, which is a critical resistance.
Weekend Outlook:
There is a possibility of a weekend pump.
However, BTC might face rejection and retrace to $59,500 support.
Key Support Levels:
Immediate Support: $63,000 is the key level for bulls to maintain momentum.
Major Support: $59,500 is crucial; a breakdown here could see BTC dropping back to $56,000.
Conclusion: BTC is navigating between key levels, with $63,000 being a pivotal point for bullish continuation. Watch for potential weekend volatility. If BTC fails to hold $59,500, we could see a significant drop to $56,000.
Analysis:
Recent Bounce:
BTC recently bounced from $60,500.
However, it is still trading below the $63,000 level, which is a critical resistance.
Weekend Outlook:
There is a possibility of a weekend pump.
However, BTC might face rejection and retrace to $59,500 support.
Key Support Levels:
Immediate Support: $63,000 is the key level for bulls to maintain momentum.
Major Support: $59,500 is crucial; a breakdown here could see BTC dropping back to $56,000.
Conclusion: BTC is navigating between key levels, with $63,000 being a pivotal point for bullish continuation. Watch for potential weekend volatility. If BTC fails to hold $59,500, we could see a significant drop to $56,000.
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.