Trend Analysis: The broader trend appears to be downward, with Bitcoin forming a potential falling wedge on the daily chart. Falling wedges are generally considered bullish reversal patterns, but confirmation is needed.
Support and Resistance:
Support: $82,500 is a critical short-term support. Below this, $79,000 and the stronger zone around $76,100–$73,600 are key supports.
Resistance: $85,100–$85,300 is the immediate resistance. If BTC breaks this zone with a strong daily close, it could lead to a significant upward move.
Volume: The volume seems relatively low, indicating possible indecision in the market. A volume spike could confirm a breakout or breakdown.
Support and Resistance:
Support: $82,500 is a critical short-term support. Below this, $79,000 and the stronger zone around $76,100–$73,600 are key supports.
Resistance: $85,100–$85,300 is the immediate resistance. If BTC breaks this zone with a strong daily close, it could lead to a significant upward move.
Volume: The volume seems relatively low, indicating possible indecision in the market. A volume spike could confirm a breakout or breakdown.
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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.
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.