Bitcoin (BTC) Price Forecast Based on Chart Analysis
Current Market Condition
Bitcoin is currently trading around 78,978 USDT.
The price has been declining and recently tested the support zone, which now acts as a short-term resistance.
Volume shows some selling pressure, indicating potential further downside movement.
Forecasted Movement
1. Bearish Scenario (More Likely Based on Chart)
If Bitcoin fails to break above 80,000 USDT, we may see a pullback towards the 72,000 USDT support level.
If selling pressure continues and 72,000 USDT breaks, the next possible support level could be around 68,000 USDT.
2. Bullish Scenario (Less Likely Unless Momentum Shifts)
If Bitcoin reclaims 80,000 USDT, it could move back toward 82,000–85,000 USDT.
A breakout above 85,000 USDT could signal a trend reversal.
Current Market Condition
Bitcoin is currently trading around 78,978 USDT.
The price has been declining and recently tested the support zone, which now acts as a short-term resistance.
Volume shows some selling pressure, indicating potential further downside movement.
Forecasted Movement
1. Bearish Scenario (More Likely Based on Chart)
If Bitcoin fails to break above 80,000 USDT, we may see a pullback towards the 72,000 USDT support level.
If selling pressure continues and 72,000 USDT breaks, the next possible support level could be around 68,000 USDT.
2. Bullish Scenario (Less Likely Unless Momentum Shifts)
If Bitcoin reclaims 80,000 USDT, it could move back toward 82,000–85,000 USDT.
A breakout above 85,000 USDT could signal a trend reversal.
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.