Key Observations from the Chart:
Current Price & Trend:
BTC/USD is trading around 85,360.
The price is moving within an ascending channel (bullish structure).
Multiple Change of Character (CHoCH) points indicate trend shifts.
Important Levels Identified:
Support Zones:
84,713 (Immediate Support)
82,450 (Stronger Demand Zone)
78,764 (Major Demand Zone, Possible Liquidity Grab Area)
Resistance Zones:
Near 86,000-87,000 (Upper Channel Resistance)
90,000+ (Strong High Zone, Major Resistance)
If the trendline breaks, a bearish pullback may occur towards 82,450 or lower.
Expected Next Movement:
Scenario 1:
Bullish Continuation (More Likely)
If BTC holds above 84,713 and bounces from the trendline, expect a move towards 86,000+.
A break above 87,000 could push the price towards 90,000 and higher.
Entry: Long around 84,700-85,000
Target: 87,000, then 90,000
Stop Loss: Below 84,450
Scenario 2:
Bearish Pullback
(Less Likely but Possible)
If BTC breaks below 84,713, expect a retracement to 82,450 or even 78,764 (deeper liquidity zone).
Entry: Short below 84,700
Target: 82,450, then 78,764
Stop Loss: Above 85,500
Current Price & Trend:
BTC/USD is trading around 85,360.
The price is moving within an ascending channel (bullish structure).
Multiple Change of Character (CHoCH) points indicate trend shifts.
Important Levels Identified:
Support Zones:
84,713 (Immediate Support)
82,450 (Stronger Demand Zone)
78,764 (Major Demand Zone, Possible Liquidity Grab Area)
Resistance Zones:
Near 86,000-87,000 (Upper Channel Resistance)
90,000+ (Strong High Zone, Major Resistance)
If the trendline breaks, a bearish pullback may occur towards 82,450 or lower.
Expected Next Movement:
Scenario 1:
Bullish Continuation (More Likely)
If BTC holds above 84,713 and bounces from the trendline, expect a move towards 86,000+.
A break above 87,000 could push the price towards 90,000 and higher.
Entry: Long around 84,700-85,000
Target: 87,000, then 90,000
Stop Loss: Below 84,450
Scenario 2:
Bearish Pullback
(Less Likely but Possible)
If BTC breaks below 84,713, expect a retracement to 82,450 or even 78,764 (deeper liquidity zone).
Entry: Short below 84,700
Target: 82,450, then 78,764
Stop Loss: Above 85,500
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.