Support Zone: The price appears to have reached a strong support level around $81,000 (highlighted in red).
Reversal Signal: The chart indicates a possible double-bottom formation or liquidity grab, suggesting a potential bounce.
Target Zone: The forecasted bullish move aims for resistance near $86,000–$87,000 (highlighted in green).
Confirmation Needed: If BTC holds above the support and breaks local resistance levels, an upward movement could be confirmed.
Forecast: A short-term rebound towards $86,000 is possible if the support holds. However, failure to maintain above $81,000 may lead to further downside. Traders should monitor price action and volume for confirmation.
Reversal Signal: The chart indicates a possible double-bottom formation or liquidity grab, suggesting a potential bounce.
Target Zone: The forecasted bullish move aims for resistance near $86,000–$87,000 (highlighted in green).
Confirmation Needed: If BTC holds above the support and breaks local resistance levels, an upward movement could be confirmed.
Forecast: A short-term rebound towards $86,000 is possible if the support holds. However, failure to maintain above $81,000 may lead to further downside. Traders should monitor price action and volume for confirmation.
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.
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.