Price holds above the February low โ a level tested during peak macro/trade war pressure. Buyers have been defending the ~$78k zone for 40 days.
๐ Key Observations
โ The recent breakdown below $78k was a fakeout: quick reclaim + strong daily close = bullish daily block
โ Currently consolidating above that block โ a bullish sign.
๐ฏ Trade Plan
โ Long: If price holds above the daily block + confirmation candle โ
๐ฏ Target =
88K (untouched highs)
โ Invalidation = Daily close below $78.2k
โ๏ธ Triggers:
Watching for a clean push from accumulation into breakout.
๐ Support: $78.2k
๐ Resistance/Target: $88.3โ88.7k
๐ง Ideal scenario?
Tight consolidation above the block โ breakout.
Failure to hold = revisit support or range reset.
๐ Key Observations
โ The recent breakdown below $78k was a fakeout: quick reclaim + strong daily close = bullish daily block
โ Currently consolidating above that block โ a bullish sign.
๐ฏ Trade Plan
โ Long: If price holds above the daily block + confirmation candle โ
๐ฏ Target =
88K (untouched highs)โ Invalidation = Daily close below $78.2k
โ๏ธ Triggers:
Watching for a clean push from accumulation into breakout.
๐ Support: $78.2k
๐ Resistance/Target: $88.3โ88.7k
๐ง Ideal scenario?
Tight consolidation above the block โ breakout.
Failure to hold = revisit support or range reset.
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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.