TECHNICAL ANALYSIS: 🚨
Market Structure:
- Price: $91,644 (-1.84%)
- Timeframe: Daily (1D)
- Exchange: Bitstamp
Key Elements:
- Strong resistance zone: $105,000-110,000
- Potential fake breakout warning
- FVG (Fair Value Gap) identified on 1W timeframe
- Multiple trendlines converging
Projected Scenario:
- Current fake breakout pattern suggests potential reversal
- Initial pump to $115,000-120,000 zone
- Sharp reversal target: $95,000-92,000
- Critical support zone: $85,000-88,000
Risk Management:
▪️ Key Resistance: $110,000
▪️ Support: $88,000 - 86,000
▪️ Yellow Trendline: Critical for bullish structure
Timeframe: Daily
Pattern: Fake Breakout Setup
Bias: Cautious, potential distribution phase
Note: High-risk setup. Capital preservation is crucial. Not financial advice.
#Bitcoin #BTC #TechnicalAnalysis #Crypto
Note
here the update next TP is 124k
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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.