Bitcoin is currently trading at $88,049, showing a +2.28% gain for the day. The price has been moving within an ascending channel (green) after a significant downtrend, approaching a critical Area of Interest (AOI) on the Daily timeframe.
📈 Bullish Scenario:
If BTC breaks above the AOI Daily zone and the descending trendline (orange), it could confirm a bullish continuation.
The next major target (TP) would be around the $108,000 - $112,000 resistance zone.
The price might retest the breakout level before continuing the uptrend.
📉 Bearish Scenario:
If BTC faces rejection at AOI Daily and breaks below the ascending channel, a pullback towards the lower support zone is likely.
A potential take-profit (TP) level for shorts is in the $74,000 - $76,000 area, aligning with previous support.
⚠️ Key Levels to Watch:
Resistance: $108,000 - $112,000
Support: $72,000 - $76,000
VWAP: Currently at $87,454, acting as a dynamic support/resistance level
Conclusion
Bitcoin is at a critical decision point. A breakout above AOI Daily could lead to a strong rally, while rejection may result in a bearish correction. Traders should watch price action closely and manage risk accordingly.
🔔 What’s your outlook? Bullish or Bearish? Let me know in the comments!
📈 Bullish Scenario:
If BTC breaks above the AOI Daily zone and the descending trendline (orange), it could confirm a bullish continuation.
The next major target (TP) would be around the $108,000 - $112,000 resistance zone.
The price might retest the breakout level before continuing the uptrend.
📉 Bearish Scenario:
If BTC faces rejection at AOI Daily and breaks below the ascending channel, a pullback towards the lower support zone is likely.
A potential take-profit (TP) level for shorts is in the $74,000 - $76,000 area, aligning with previous support.
⚠️ Key Levels to Watch:
Resistance: $108,000 - $112,000
Support: $72,000 - $76,000
VWAP: Currently at $87,454, acting as a dynamic support/resistance level
Conclusion
Bitcoin is at a critical decision point. A breakout above AOI Daily could lead to a strong rally, while rejection may result in a bearish correction. Traders should watch price action closely and manage risk accordingly.
🔔 What’s your outlook? Bullish or Bearish? Let me know in the comments!
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.