Bitcoin price (1h) after moving inside the upwards range (yellow diapason) experienced the declining trend (white), breaking out the upwards zone.
The bearish rally stopped at the level of $7800 that was a significant support level for several weeks. Then the rebound followed, breaking the upper border of the falling range.
Two crossed ranges formed a neutral zone (white triangle) where the price is fluctuating currently.
The breakout of the triangle borders will mean:
1. Either bullish scenario ($8250 resistance breakout) with the further target levels inside the yellow range:
- Target 1: $8460
- Target 2: ~$9000 and upper (the upper range border)
2. Or bearish scenario: Reaching $7800 support and falling below.
Neutral scenario imply further consolidation inside the neutral zone.
The bearish rally stopped at the level of $7800 that was a significant support level for several weeks. Then the rebound followed, breaking the upper border of the falling range.
Two crossed ranges formed a neutral zone (white triangle) where the price is fluctuating currently.
The breakout of the triangle borders will mean:
1. Either bullish scenario ($8250 resistance breakout) with the further target levels inside the yellow range:
- Target 1: $8460
- Target 2: ~$9000 and upper (the upper range border)
2. Or bearish scenario: Reaching $7800 support and falling below.
Neutral scenario imply further consolidation inside the neutral zone.
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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.