Bitcoin Technical Update
Bitcoin has broken above the descending trendline, entering a bullish phase 📈.
Currently, BTC is approaching a major supply zone between $95,600 and $96,800 🟥.
In order to fuel a powerful move above $100,000, Bitcoin needs additional buying momentum, which could come from the demand zone located between $67,700 and $69,300 🟩.
Thus, a gradual, step-by-step pullback toward the $88,000 level — and potentially lower prices — should not be ruled out before any strong bullish continuation
Bitcoin has broken above the descending trendline, entering a bullish phase 📈.
Currently, BTC is approaching a major supply zone between $95,600 and $96,800 🟥.
In order to fuel a powerful move above $100,000, Bitcoin needs additional buying momentum, which could come from the demand zone located between $67,700 and $69,300 🟩.
Thus, a gradual, step-by-step pullback toward the $88,000 level — and potentially lower prices — should not be ruled out before any strong bullish continuation
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.