Daily Time Frame Analysis: Bitcoin (BTC) has recently broken out of a descending trendline on the daily chart, signaling a potential shift in momentum. Following the breakout, BTC has entered a consolidation phase, lasting for the past 7–8 days.
Short-Term Outlook: In the near term, BTC may either:
Break out to the upside from the current consolidation zone, or
Execute a fake-out to the downside before reversing sharply.
Potential Upside Targets:
Target 1: $87,000
Target 2: $88,000
Target 3: $90,000
Target 4: $92,000
Traders should monitor price action closely for confirmation before entering positions.
Short-Term Outlook: In the near term, BTC may either:
Break out to the upside from the current consolidation zone, or
Execute a fake-out to the downside before reversing sharply.
Potential Upside Targets:
Target 1: $87,000
Target 2: $88,000
Target 3: $90,000
Target 4: $92,000
Traders should monitor price action closely for confirmation before entering positions.
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.