Bitcoin - Key Demand Zone Holding, Potential Reversal?Bitcoin - Key Demand Zone Holding, Potential Reversal?
📊 Market Overview:
Bitcoin has recently retraced from its all-time high and is now testing a critical demand zone (highlighted in green). Historically, similar areas have provided strong support, leading to bullish reversals.
🟢 Key Levels to Watch:
🔲 Support Zone: The black box marks a region of historical demand where buyers previously stepped in.
📉 Resistance Levels: The chart shows heavy supply areas near GETTEX:87K and GETTEX:98K , where previous rallies stalled.
📈 Technical Analysis:
The previous rally from a similar support zone (mid-2023) suggests this level has strong buying interest.
The trend indicator shows price interacting with a dynamic support area (blue band).
Potential reversal with a green arrow pointing to a possible bounce.
⚠️ Key Risks:
A breakdown below support could lead to further downside toward lower liquidity zones.
Market sentiment remains mixed, with structure signals indicating volatility.
🔥 Trading Plan:
Bullish Scenario: A successful hold of this zone could see Bitcoin reclaim GETTEX:87K and push toward $98K.
Bearish Breakdown: If support fails, watch for liquidity grabs at lower levels around $75K-$70K.
📢 What do you think? Will Bitcoin bounce or break lower? Drop your thoughts in the comments!
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