Bitcoin (BTC/USDT) Forecast Based on Chart Analysis
Market Overview:
Current Price: ~$85,726
Resistance Zone: Near $86,000
Support Target: Around $84,000
Technical Outlook:
1. Bearish Structure – The chart shows a descending channel, indicating a gradual decline in price action.
2. Resistance at $86,000 – Price recently tested this zone but failed to break higher, suggesting selling pressure.
3. Breakout Confirmation – If BTC stays below resistance, the price could decline towards $84,000 support.
Forecast:
Bearish Scenario (Primary Bias)
If BTC fails to reclaim $86,000, a drop towards $84,000 is likely.
Selling near resistance with a target of $84,000 could be a favorable trade.
Bullish Alternative (Less Likely for Now)
A breakout above $86,000 would invalidate this bearish outlook, pushing BTC towards new highs.
Trading Plan:
Short-term traders: Look for short opportunities below $86,000.
Long-term investors: Monitor $84,000 support for possible buying opportunities.
Market Overview:
Current Price: ~$85,726
Resistance Zone: Near $86,000
Support Target: Around $84,000
Technical Outlook:
1. Bearish Structure – The chart shows a descending channel, indicating a gradual decline in price action.
2. Resistance at $86,000 – Price recently tested this zone but failed to break higher, suggesting selling pressure.
3. Breakout Confirmation – If BTC stays below resistance, the price could decline towards $84,000 support.
Forecast:
Bearish Scenario (Primary Bias)
If BTC fails to reclaim $86,000, a drop towards $84,000 is likely.
Selling near resistance with a target of $84,000 could be a favorable trade.
Bullish Alternative (Less Likely for Now)
A breakout above $86,000 would invalidate this bearish outlook, pushing BTC towards new highs.
Trading Plan:
Short-term traders: Look for short opportunities below $86,000.
Long-term investors: Monitor $84,000 support for possible buying opportunities.
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.