Bitcoin has recently tested a major resistance zone, likely a psychological and technical ceiling after a strong bullish move. Price action shows signs of exhaustion near the highs, indicating that bullish momentum may be fading, and sellers are beginning to step in.
📈 Key Technical Elements
1. Resistance Zone
Zone: [94000] – often aligned with historical rejection levels or Fibonacci extensions.
Price Action: Candlestick patterns such as long upper wicks or bearish engulfing around the resistance suggest weakening buying pressure.
Volume: Possibly decreasing on the recent uptrend, hinting at divergence between price and volume.
2. Bearish Reversal Indicators
Momentum Indicators:
RSI near or above 70? → Suggests overbought conditions.
MACD histogram shrinking or a bearish crossover? → Bearish momentum picking up.
Structure Shift:
Lower highs on intraday charts, possible breakdown below a key minor support level.
Rising wedge or double top formations would add confluence.
🎯 Bearish Targets
📍 Target 1: $90,000
Likely the first major support, possibly a previous breakout level or horizontal support from consolidation zones.
Also may align with Fibonacci retracement level (e.g., 0.236 or 0.382 from last swing low).
📍 Target 2: $88,000
Stronger support zone — may align with:
EMA support (like 50 EMA on daily)
Volume Profile Point of Control (POC)
Previous key resistance turned support
These levels are not guaranteed bounces, but they’re places where bulls might step in.
🚨 Risk Management & Considerations
Invalidation: If price closes above resistance, it could signal continuation of the uptrend — bearish bias would be invalidated.
Watch BTC dominance and macro factors, like U.S. economic news, inflation data, or ETF inflows that can affect crypto sentiment.
📈 Key Technical Elements
1. Resistance Zone
Zone: [94000] – often aligned with historical rejection levels or Fibonacci extensions.
Price Action: Candlestick patterns such as long upper wicks or bearish engulfing around the resistance suggest weakening buying pressure.
Volume: Possibly decreasing on the recent uptrend, hinting at divergence between price and volume.
2. Bearish Reversal Indicators
Momentum Indicators:
RSI near or above 70? → Suggests overbought conditions.
MACD histogram shrinking or a bearish crossover? → Bearish momentum picking up.
Structure Shift:
Lower highs on intraday charts, possible breakdown below a key minor support level.
Rising wedge or double top formations would add confluence.
🎯 Bearish Targets
📍 Target 1: $90,000
Likely the first major support, possibly a previous breakout level or horizontal support from consolidation zones.
Also may align with Fibonacci retracement level (e.g., 0.236 or 0.382 from last swing low).
📍 Target 2: $88,000
Stronger support zone — may align with:
EMA support (like 50 EMA on daily)
Volume Profile Point of Control (POC)
Previous key resistance turned support
These levels are not guaranteed bounces, but they’re places where bulls might step in.
🚨 Risk Management & Considerations
Invalidation: If price closes above resistance, it could signal continuation of the uptrend — bearish bias would be invalidated.
Watch BTC dominance and macro factors, like U.S. economic news, inflation data, or ETF inflows that can affect crypto sentiment.
Time is Money And Trust is Profit💯 No One can beat me in account mangement Trading is my Patience
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ALL CRYPTO SIGNALS AVAILABLE BTC/ XAUUSD/USDCAD/GBPJPYm👇
t.me/marketEduHub
t.me/XauusdTradingHub
ALL CRYPTO SIGNALS AVAILABLE BTC/ XAUUSD/USDCAD/GBPJPYm👇
t.me/marketEduHub
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.
Time is Money And Trust is Profit💯 No One can beat me in account mangement Trading is my Patience
t.me/XauusdTradingHub
ALL CRYPTO SIGNALS AVAILABLE BTC/ XAUUSD/USDCAD/GBPJPYm👇
t.me/marketEduHub
t.me/XauusdTradingHub
ALL CRYPTO SIGNALS AVAILABLE BTC/ XAUUSD/USDCAD/GBPJPYm👇
t.me/marketEduHub
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.