1. Resistance at the Top – The price has hit a strong resistance level (marked with red arrows) around 84,500 - 85,000 USDT, where it has failed to break through.
2. Potential Reversal – The chart indicates a double-top pattern, a bearish signal suggesting a trend reversal.
3. Expected Downtrend – The price is projected to decline, breaking below the support area, and moving towards the 82,000 USDT zone, which is marked as the next significant support level.
4. Bearish Confirmation – If the price follows the blue downward path shown in the analysis, traders should anticipate further selling pressure.
Final Forecast: Bitcoin could face a drop toward 82,000 USDT in the short term unless it successfully breaks above the resistance level. Traders should watch price action near the resistance and support areas to confirm the next move.
2. Potential Reversal – The chart indicates a double-top pattern, a bearish signal suggesting a trend reversal.
3. Expected Downtrend – The price is projected to decline, breaking below the support area, and moving towards the 82,000 USDT zone, which is marked as the next significant support level.
4. Bearish Confirmation – If the price follows the blue downward path shown in the analysis, traders should anticipate further selling pressure.
Final Forecast: Bitcoin could face a drop toward 82,000 USDT in the short term unless it successfully breaks above the resistance level. Traders should watch price action near the resistance and support areas to confirm the next move.
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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.