BTCUSDT: Bullish or bearish? Must read!!
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Let's analyze BTCUSDT :
BTC experienced a significant surge to 102.7k, as noted previously in our post, with 102.8k acting as a key resistance level. However, it quickly dropped nearly 6.4% from this resistance point.
Currently, BTC is trading near the 96k mark. We need strong buying interest to push BTC back up to at least 98.5k.
Previously, BTC rose from the 91k level to reach 102.8k, so it's crucial to avoid falling below 91k to prevent a lower low. Doing so would strongly indicate a major retest from the parallel channel, potentially reversing the trend to bearish, which would lead us toward the critical support level at 85.7k.
At present, BTC must maintain a support zone of around $94,700 or at minimum, 91k. If it breaks below 91k, the $85,700 and $76,000 levels will likely follow.
Key Support Levels:
$94,700
$92,500-$91,100
Key Resistance Level:
$98,500
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze BTCUSDT :
BTC experienced a significant surge to 102.7k, as noted previously in our post, with 102.8k acting as a key resistance level. However, it quickly dropped nearly 6.4% from this resistance point.
Currently, BTC is trading near the 96k mark. We need strong buying interest to push BTC back up to at least 98.5k.
Previously, BTC rose from the 91k level to reach 102.8k, so it's crucial to avoid falling below 91k to prevent a lower low. Doing so would strongly indicate a major retest from the parallel channel, potentially reversing the trend to bearish, which would lead us toward the critical support level at 85.7k.
At present, BTC must maintain a support zone of around $94,700 or at minimum, 91k. If it breaks below 91k, the $85,700 and $76,000 levels will likely follow.
Key Support Levels:
$94,700
$92,500-$91,100
Key Resistance Level:
$98,500
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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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.
Related publications
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.