Bitcoin Price Analysis–Demand Zone Bounce with Target 85k
This 1-hour BTC/USD chart shows Bitcoin bouncing from a strong Demand Zone around the $80,000 level, with bullish momentum supported by a rising Trend Line. Price previously reversed from the Reversal Zone near $87,000 and is now forming higher lows. A potential short-term target is highlighted at $85,500, suggesting continued upward movement if price maintains support above the trend line. Key resistance and previous rejection points are marked for context, indicating a bullish setup toward the target.
1. Market Structure:
The market previously ranged sideways (highlighted by the blue box on the left).
A bullish breakout occurred from that range, initiating a strong upward trend (yellow highlighted channel), indicating buyer dominance.
Price reached the Reversal Zone near $87,000, which acted as a resistance area, triggering a pullback.
2. Demand Zone:
Price retraced to a clearly marked Demand Zone (~$79,000 - $81,000), which has previously held as a strong support.
The recent bounce from this zone suggests buying interest and potential accumulation by bulls.
3. Trend Line Support:
A trend line is drawn from the recent low, supporting the price action upwards.
This trend line acts as dynamic support, and the price is currently respecting it, indicating a bullish trend continuation.
4. Rejection and Higher Lows:
Two red circles highlight areas of rejection or resistance, where price was previously pushed down.
After the second rejection, price made a higher low and started climbing again, showing potential trend reversal to the upside.
5. Target Projection:
The projected target is $85,500, a level just below the previous Reversal Zone, which may act as resistance again.
The chart suggests price will move higher along the trend line, with a possible minor pullback before hitting the target.
Summary:
Bias: Bullish, as long as the price stays above the trend line and demand zone.
Confirmation: Break of recent highs near $84,000 will add confidence to reaching the $85,500 target.
Invalidation: A break below the trend line and drop into the demand zone could signal weakness or further consolidation.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
1. Market Structure:
The market previously ranged sideways (highlighted by the blue box on the left).
A bullish breakout occurred from that range, initiating a strong upward trend (yellow highlighted channel), indicating buyer dominance.
Price reached the Reversal Zone near $87,000, which acted as a resistance area, triggering a pullback.
2. Demand Zone:
Price retraced to a clearly marked Demand Zone (~$79,000 - $81,000), which has previously held as a strong support.
The recent bounce from this zone suggests buying interest and potential accumulation by bulls.
3. Trend Line Support:
A trend line is drawn from the recent low, supporting the price action upwards.
This trend line acts as dynamic support, and the price is currently respecting it, indicating a bullish trend continuation.
4. Rejection and Higher Lows:
Two red circles highlight areas of rejection or resistance, where price was previously pushed down.
After the second rejection, price made a higher low and started climbing again, showing potential trend reversal to the upside.
5. Target Projection:
The projected target is $85,500, a level just below the previous Reversal Zone, which may act as resistance again.
The chart suggests price will move higher along the trend line, with a possible minor pullback before hitting the target.
Summary:
Bias: Bullish, as long as the price stays above the trend line and demand zone.
Confirmation: Break of recent highs near $84,000 will add confidence to reaching the $85,500 target.
Invalidation: A break below the trend line and drop into the demand zone could signal weakness or further consolidation.
Note:
This is not a trading signal, just my personal analysis based on current market trends.
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Disclaimer
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👉 lucky person will join this link 👇
t.me/+1iCkqnlXaHFjMjg0
🎯 DAILY FREE SIGNAL 🔥
🎯 FOREX GOLD SIGNAL🔥👇
🎯 BTCUSD AND CRYPTO SIGNALS
t.me/+1iCkqnlXaHFjMjg0
t.me/+1iCkqnlXaHFjMjg0
🎯 DAILY FREE SIGNAL 🔥
🎯 FOREX GOLD SIGNAL🔥👇
🎯 BTCUSD AND CRYPTO SIGNALS
t.me/+1iCkqnlXaHFjMjg0
Related publications
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.