On the 1-hour timeframe, the BTC/USDT market is exhibiting a clear uptrend, marked by higher highs and higher lows. The recent break above a downward trendline led to an extended move upward, bringing the price to a test of last week’s high, where a potential pullback could emerge.
Zooming out, the broader structure reveals the formation of an ABC pattern, with the move appearing to target the psychological level of 90,000. It is common for markets to consolidate around significant levels before breaking out, suggesting that price may hover near this area in the short term. Barring any unforeseen market disruptions, the current momentum supports a retest of the area above 90,000, with the next key target at the resistance zone around 89,000
Zooming out, the broader structure reveals the formation of an ABC pattern, with the move appearing to target the psychological level of 90,000. It is common for markets to consolidate around significant levels before breaking out, suggesting that price may hover near this area in the short term. Barring any unforeseen market disruptions, the current momentum supports a retest of the area above 90,000, with the next key target at the resistance zone around 89,000
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.