Will $80K Hold, or Another Breakout?
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BTC has rebounded from the lower border of the rising wedge, aligning with the 0.618 Fibonacci retracement level at $78K. However, it now faces a clear resistance zone at the 200-day moving average ($85K), a level associated with strong supply and selling pressure.
A breakout beyond this key resistance could spark a short-range move that could propel Bitcoin towards the $90,000 mark. However, the presence of strong sellers at this level suggests further consolidation is a more likely short-term outcome. If Bitcoin faces rejection, a retest of the lower border of the rising wedge ($78K) is likely.
BTCUSDT BTCUSDT.P BTCUSD BTCUSD BTCUSD
BTC has rebounded from the lower border of the rising wedge, aligning with the 0.618 Fibonacci retracement level at $78K. However, it now faces a clear resistance zone at the 200-day moving average ($85K), a level associated with strong supply and selling pressure.
A breakout beyond this key resistance could spark a short-range move that could propel Bitcoin towards the $90,000 mark. However, the presence of strong sellers at this level suggests further consolidation is a more likely short-term outcome. If Bitcoin faces rejection, a retest of the lower border of the rising wedge ($78K) is likely.
BTCUSDT BTCUSDT.P BTCUSD BTCUSD BTCUSD 
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✔Copy accurate trading signals✔Manage accounts🎁Stable profit of more than 188.6% per week🎁Success rate is as high as 96.85%. If you want to recover a large loss, leave me a message t.me/BeckLedley Trading entrance: t.me/FcCygjylf
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.