BTC is currently within its long-term ascending channel but has shown strong rejection at the upper boundary (~$100K).
A pullback toward the mid-channel support (~$70K-$75K) seems likely, aligning with historical retracement patterns.
Indicators Show Weakness:
RSI Divergence suggests a slowdown in momentum.
MACD hints at a potential bearish crossover.
📉 Key Levels to Watch:
Resistance: $95K - $100K (Upper trendline)
Support: $75K (Mid-channel), $60K (Lower trendline)
📈 Scenario 1: BTC consolidates and regains strength for a new ATH attempt.
📉 Scenario 2: A deeper correction to the lower trendline before continuation.
Needs to really break $95k first.
A pullback toward the mid-channel support (~$70K-$75K) seems likely, aligning with historical retracement patterns.
Indicators Show Weakness:
RSI Divergence suggests a slowdown in momentum.
MACD hints at a potential bearish crossover.
📉 Key Levels to Watch:
Resistance: $95K - $100K (Upper trendline)
Support: $75K (Mid-channel), $60K (Lower trendline)
📈 Scenario 1: BTC consolidates and regains strength for a new ATH attempt.
📉 Scenario 2: A deeper correction to the lower trendline before continuation.
Needs to really break $95k first.
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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.