Bitcoin - Key Demand Zone Holding, Potential Reversal?
📊 Market Overview:
Bitcoin has recently retraced from its all-time high and is now testing a critical demand zone (highlighted in green). Historically, similar areas have provided strong support, leading to bullish reversals.
🟢 Key Levels to Watch:
🔲 Support Zone: The black box marks a region of historical demand where buyers previously stepped in.
📉 Resistance Levels: The chart shows heavy supply areas near
87K and 
98K, where previous rallies stalled.
📈 Technical Analysis:
The previous rally from a similar support zone (mid-2023) suggests this level has strong buying interest.
The trend indicator shows price interacting with a dynamic support area (blue band).
Potential reversal with a green arrow pointing to a possible bounce.
⚠️ Key Risks:
A breakdown below support could lead to further downside toward lower liquidity zones.
Market sentiment remains mixed, with structure signals indicating volatility.
🔥 Trading Plan:
Bullish Scenario: A successful hold of this zone could see Bitcoin reclaim87K and push toward $98K.
Bearish Breakdown: If support fails, watch for liquidity grabs at lower levels around $75K-$70K.
📢 What do you think? Will Bitcoin bounce or break lower? Drop your thoughts in the comments!
#BTC #Crypto #Trading #Bitcoin #PriceAction #SupportAndResistance 🚀
📊 Market Overview:
Bitcoin has recently retraced from its all-time high and is now testing a critical demand zone (highlighted in green). Historically, similar areas have provided strong support, leading to bullish reversals.
🟢 Key Levels to Watch:
🔲 Support Zone: The black box marks a region of historical demand where buyers previously stepped in.
📉 Resistance Levels: The chart shows heavy supply areas near
87K and 98K, where previous rallies stalled.📈 Technical Analysis:
The previous rally from a similar support zone (mid-2023) suggests this level has strong buying interest.
The trend indicator shows price interacting with a dynamic support area (blue band).
Potential reversal with a green arrow pointing to a possible bounce.
⚠️ Key Risks:
A breakdown below support could lead to further downside toward lower liquidity zones.
Market sentiment remains mixed, with structure signals indicating volatility.
🔥 Trading Plan:
Bullish Scenario: A successful hold of this zone could see Bitcoin reclaim
87K and push toward $98K.Bearish Breakdown: If support fails, watch for liquidity grabs at lower levels around $75K-$70K.
📢 What do you think? Will Bitcoin bounce or break lower? Drop your thoughts in the comments!
#BTC #Crypto #Trading #Bitcoin #PriceAction #SupportAndResistance 🚀
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.