1. Resistance Area: The price is approaching the resistance zone around $85,345.
2. Current Price: BTC is trading at $84,166 with a positive momentum (+1.93%).
3. Bullish Pattern: The projected price movement suggests a breakout attempt above resistance.
4. Support Level: The price recently rebounded from a lower level (around $83,576), indicating strong buying interest.
Forecast:
If Bitcoin breaks above the resistance at $85,345, it may continue rallying toward $86,000+.
However, if it fails to break resistance, a pullback towards $83,500 - $83,800 is possible before another attempt.
Trading Outlook:
Bullish above $85,345 (buy breakout scenario).
Bearish below $83,500 (potential retracement).
Neutral between $83,500 - $85,345 (sideways consolidation).
2. Current Price: BTC is trading at $84,166 with a positive momentum (+1.93%).
3. Bullish Pattern: The projected price movement suggests a breakout attempt above resistance.
4. Support Level: The price recently rebounded from a lower level (around $83,576), indicating strong buying interest.
Forecast:
If Bitcoin breaks above the resistance at $85,345, it may continue rallying toward $86,000+.
However, if it fails to break resistance, a pullback towards $83,500 - $83,800 is possible before another attempt.
Trading Outlook:
Bullish above $85,345 (buy breakout scenario).
Bearish below $83,500 (potential retracement).
Neutral between $83,500 - $85,345 (sideways consolidation).
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.