BitcoinShort
Is Bitcoin Heading to $78K? Key Patterns Explained!
''BTC/USD: Key Supply Zone in Focus''
This chart highlights a significant supply zone between $94,858.98 and $95,979.83, marked by previous price rejections (indicated by the arrows). This zone represents a key area of resistance where selling pressure has historically dominated.
If the price revisits this zone, there’s a high probability of another rejection, potentially leading to a downward movement. Traders should monitor this area closely for potential short opportunities or signs of a breakout.
👉 What’s your take on this supply zone? Will it hold, or are we breaking through? Let me know your thoughts in the comments!
"BTC/USD: Bearish Head and Shoulders Pattern"
This chart showcases a classic Head and Shoulders pattern, often regarded as a bearish signal. The price has already broken the neckline, indicating a potential continuation to the downside.
The target for this pattern lies near $78,490.59, calculated based on the height of the structure. Combined with the current price action, this setup suggests further bearish momentum could be on the horizon.
👉 Do you agree with this bearish outlook? Or do you see a reversal coming? Share your analysis in the comments below!
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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.