When Will See the Bitcoin (BTC/USD) Range Break?
Chart Analysis:
Bitcoin remains trapped in a broad consolidation range between $91,000 support and $109,000 resistance as price action struggles for direction.
1️⃣ Range-Bound Price Action:
Bitcoin continues to respect the $91,000 - $109,000 range, with multiple failed breakout attempts.
Recent price action suggests indecision, with neither bulls nor bears taking control.
2️⃣ Key Support & Resistance Levels:
Support: $91,000, a critical zone where buyers have stepped in repeatedly.
Resistance: $109,000, where sellers continue to cap upside moves.
3️⃣ Moving Averages Provide Mixed Signals:
50-day SMA (blue): $99,025, acting as a dynamic pivot point.
200-day SMA (red): $78,230, showing a long-term bullish structure.
4️⃣ Momentum Indicators Reflect Neutral Bias:
RSI: 48.67, showing lack of momentum in either direction.
MACD: Weakening, reflecting the ongoing range-bound environment.
What to Watch:
A break above $109,000 could trigger a bullish continuation towards new highs.
A break below $91,000 would put $78,000 as the next key support level.
Until a breakout occurs, range-trading strategies remain in play, with traders watching for reversals at support and resistance.
Bitcoin remains directionless within its range, with traders waiting for a decisive breakout to determine the next major move.
-MW
Bitcoin remains trapped in a broad consolidation range between $91,000 support and $109,000 resistance as price action struggles for direction.
1️⃣ Range-Bound Price Action:
Bitcoin continues to respect the $91,000 - $109,000 range, with multiple failed breakout attempts.
Recent price action suggests indecision, with neither bulls nor bears taking control.
2️⃣ Key Support & Resistance Levels:
Support: $91,000, a critical zone where buyers have stepped in repeatedly.
Resistance: $109,000, where sellers continue to cap upside moves.
3️⃣ Moving Averages Provide Mixed Signals:
50-day SMA (blue): $99,025, acting as a dynamic pivot point.
200-day SMA (red): $78,230, showing a long-term bullish structure.
4️⃣ Momentum Indicators Reflect Neutral Bias:
RSI: 48.67, showing lack of momentum in either direction.
MACD: Weakening, reflecting the ongoing range-bound environment.
What to Watch:
A break above $109,000 could trigger a bullish continuation towards new highs.
A break below $91,000 would put $78,000 as the next key support level.
Until a breakout occurs, range-trading strategies remain in play, with traders watching for reversals at support and resistance.
Bitcoin remains directionless within its range, with traders waiting for a decisive breakout to determine the next major move.
-MW
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.