Bitcoin has now tapped into a major supply zone between $107,543 and $108,586, with today’s high printing at $108,586 before pulling back slightly. This is a significant area of historical resistance as shown by the Visible Range Volume Profile and prior price action.
Key Levels:
Current Price: $108,208
Supply Zone: $107,543 - $108,586 (major seller interest)
Support Zones:
$73,419 (previous ATH zone retest)
$37,871 (mid-term demand support)
$29,847 (macro support and possible bottom scenario)
Scenarios to Watch:
1. Bearish Rejection: A rejection from this zone could send BTC back toward the $73,000 area – watch for a breakdown below $106,000 as confirmation.
2. Breakout Rally: If bulls break above $108,600 and sustain, we could see a momentum-driven run toward $120K+ as price discovers new highs.
Macro Note: With upcoming U.S. economic data marked on the calendar, volatility could spike. Traders should prepare for fakeouts and liquidity grabs near these key levels.
My Bias:
Cautiously bearish at this resistance unless we see a clear breakout with volume.
Let me know in the comments:
Are you going short here or waiting for a confirmed breakout?
#Bitcoin #BTCUSD #CryptoAnalysis #SupplyAndDemand #TechnicalAnalysis #PriceAction
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Key Levels:
Current Price: $108,208
Supply Zone: $107,543 - $108,586 (major seller interest)
Support Zones:
$73,419 (previous ATH zone retest)
$37,871 (mid-term demand support)
$29,847 (macro support and possible bottom scenario)
Scenarios to Watch:
1. Bearish Rejection: A rejection from this zone could send BTC back toward the $73,000 area – watch for a breakdown below $106,000 as confirmation.
2. Breakout Rally: If bulls break above $108,600 and sustain, we could see a momentum-driven run toward $120K+ as price discovers new highs.
Macro Note: With upcoming U.S. economic data marked on the calendar, volatility could spike. Traders should prepare for fakeouts and liquidity grabs near these key levels.
My Bias:
Cautiously bearish at this resistance unless we see a clear breakout with volume.
Let me know in the comments:
Are you going short here or waiting for a confirmed breakout?
#Bitcoin #BTCUSD #CryptoAnalysis #SupplyAndDemand #TechnicalAnalysis #PriceAction
---
Tips to Maximize Views:
Post during peak market hours (like before or during NY open).
Use high-quality thumbnails (your chart is already great).
Add polls or questions to encourage engagement.
Tag relevant markets (BTCUSD, BITSTAMP, CRYPTO, etc.)
Comment on your own post within 30 minutes to boost visibility.
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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.