Bitcoin is currently testing the lower boundary of the descending channel around the 101,844 support level. A strong bounce from this level suggests a potential bullish correction in the short term.
As long as the price holds above this key support, a move towards the next resistance levels at 103,449 and 104,411 remains likely. However, a clear break below 101,844 would invalidate the bullish outlook and resume the downward trend.
This setup offers a tactical opportunity for intraday traders to monitor price behavior around current levels.
As long as the price holds above this key support, a move towards the next resistance levels at 103,449 and 104,411 remains likely. However, a clear break below 101,844 would invalidate the bullish outlook and resume the downward trend.
This setup offers a tactical opportunity for intraday traders to monitor price behavior around current levels.
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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.