Following a strong upward trend in Bitcoin this week, the price reached the resistance line of a rising parallel channel and began to retrace.
I see a classic support cluster forming within a horizontal range and the support line of the channel on a 4-hour timeframe.
Currently, the market is testing this zone.
I predict that there will be a bullish rebound leading to further upward movement, possibly reaching 106,000 and potentially even testing the all-time high.
Conversely, if the price managed to break and close below the confluence zone, that would be a strong bearish signal.
I see a classic support cluster forming within a horizontal range and the support line of the channel on a 4-hour timeframe.
Currently, the market is testing this zone.
I predict that there will be a bullish rebound leading to further upward movement, possibly reaching 106,000 and potentially even testing the all-time high.
Conversely, if the price managed to break and close below the confluence zone, that would be a strong bearish signal.
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Join our Telegram channel for daily market update 👇👇
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
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.