🔥 Bitcoin Market Update: Navigating Crucial Resistance! 🔥
Current Momentum: Bitcoin is currently demonstrating strong upward momentum. However, the critical resistance zone between $70,000 and $71,500 has consistently halted previous rallies, despite expectations of new lifetime highs.
Key Resistance: This zone has been a tough barrier, sending BTC back to the lowest levels of the half year each time it has been tested. We now regard this area as a solid resistance until Bitcoin can secure a daily close above $71,800. A bullish H4 candle closing above this resistance could signal a potential entry for targeting new highs.
Possible Retracement: Should Bitcoin touch this resistance and retract, there's potential support between $65,800 and $63,500. This region aligns with the Daily order block and a 0.38% Fibonacci retracement, setting a prime stage for a possible final buy.
Alternative Scenario: If Bitcoin faces rejection at this tough resistance again, we might see it pivot and dive to new lows below $55,000.
💡 Keep a close eye on these pivotal levels for strategic trading decisions and potential entry points for both short-term gains and significant milestones! 💸
Current Momentum: Bitcoin is currently demonstrating strong upward momentum. However, the critical resistance zone between $70,000 and $71,500 has consistently halted previous rallies, despite expectations of new lifetime highs.
Key Resistance: This zone has been a tough barrier, sending BTC back to the lowest levels of the half year each time it has been tested. We now regard this area as a solid resistance until Bitcoin can secure a daily close above $71,800. A bullish H4 candle closing above this resistance could signal a potential entry for targeting new highs.
Possible Retracement: Should Bitcoin touch this resistance and retract, there's potential support between $65,800 and $63,500. This region aligns with the Daily order block and a 0.38% Fibonacci retracement, setting a prime stage for a possible final buy.
Alternative Scenario: If Bitcoin faces rejection at this tough resistance again, we might see it pivot and dive to new lows below $55,000.
💡 Keep a close eye on these pivotal levels for strategic trading decisions and potential entry points for both short-term gains and significant milestones! 💸
Mr K
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Join Our Free Telegram Group
t.me/MrKCharts
If You Need Personalized SIgnals Specilaized With 2:1 RR for Propfirm Than Dm Us At t.me/Kseljuk
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.
Mr K
Join Our Free Telegram Group
t.me/MrKCharts
If You Need Personalized SIgnals Specilaized With 2:1 RR for Propfirm Than Dm Us At t.me/Kseljuk
Join Our Free Telegram Group
t.me/MrKCharts
If You Need Personalized SIgnals Specilaized With 2:1 RR for Propfirm Than Dm Us At t.me/Kseljuk
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.