Bitcoin (BTC/USD) Technical Analysis – Daily Timeframe
This chart presents a technical breakdown of Bitcoin (BTC/USD) using supply and demand zones to anticipate potential price movements. It reflects a bearish bias as price action shows rejection from the supply zone (sell zone) and an expected drop toward the demand zone (buy zone).
🔍 Key Chart Elements
1. Supply Zone (Sell Zone) – Resistance Area
The supply zone is highlighted in the upper region, approximately between $86,000 and $88,000.
This area represents a strong resistance where sellers are active, preventing further price increases.
Bitcoin recently tested this zone but failed to break above, leading to a price rejection.
2. Demand Zone (Buy Zone) – Support Area
The demand zone is marked in the lower region, around $69,000 to $67,000.
This is a historical support level where strong buying interest is expected.
If Bitcoin reaches this level, a potential bullish reversal could occur.
📉 Bearish Price Projection
The chart includes a downward arrow, indicating an expected bearish movement from the supply zone toward the demand zone.
Reason for the expected drop:
BTC is struggling to gain momentum above $86,000, showing signs of weakness.
The recent bearish candles suggest increased selling pressure in the market.
A failed breakout above resistance increases the likelihood of a downward move.
Price Targets:
First target: Around $74,000, a potential minor support.
Second target: Around $69,000, which aligns with the demand zone and could act as a strong support level.
🔄 Potential Alternative Scenario – Bullish Breakout (Low Probability)
If BTC manages to break above the $88,000 resistance level, it could trigger a bullish rally.
In this case, the next targets would be $92,000 and $96,000.
However, given the current market structure, this is a less likely scenario unless buying momentum increases significantly.
This chart presents a technical breakdown of Bitcoin (BTC/USD) using supply and demand zones to anticipate potential price movements. It reflects a bearish bias as price action shows rejection from the supply zone (sell zone) and an expected drop toward the demand zone (buy zone).
🔍 Key Chart Elements
1. Supply Zone (Sell Zone) – Resistance Area
The supply zone is highlighted in the upper region, approximately between $86,000 and $88,000.
This area represents a strong resistance where sellers are active, preventing further price increases.
Bitcoin recently tested this zone but failed to break above, leading to a price rejection.
2. Demand Zone (Buy Zone) – Support Area
The demand zone is marked in the lower region, around $69,000 to $67,000.
This is a historical support level where strong buying interest is expected.
If Bitcoin reaches this level, a potential bullish reversal could occur.
📉 Bearish Price Projection
The chart includes a downward arrow, indicating an expected bearish movement from the supply zone toward the demand zone.
Reason for the expected drop:
BTC is struggling to gain momentum above $86,000, showing signs of weakness.
The recent bearish candles suggest increased selling pressure in the market.
A failed breakout above resistance increases the likelihood of a downward move.
Price Targets:
First target: Around $74,000, a potential minor support.
Second target: Around $69,000, which aligns with the demand zone and could act as a strong support level.
🔄 Potential Alternative Scenario – Bullish Breakout (Low Probability)
If BTC manages to break above the $88,000 resistance level, it could trigger a bullish rally.
In this case, the next targets would be $92,000 and $96,000.
However, given the current market structure, this is a less likely scenario unless buying momentum increases significantly.
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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.
Join My Telegram Channel for Signals and Technical Charts
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
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.