BITCOIN → Liquidation and retest of support. When is 74K?
Updated
BTCUSD is not ready to pass through 71500 yet and continues the correction phase, testing local lows and liquidating buyers in order to increase the position of a major player. Consolidation is clearly visible on the higher timeframes. The resistance area of 71500 plays an important role for the market, a breakout and consolidation of the price above this area will mean that the market is ready to go higher than 74K, but, the market has not yet gathered the potential and, therefore, the consolidation continues. Bitcoin is currently in the range of 71500 - 64500. It is worth paying attention to the upward support, marking a bullish trend, and the 64500 area. The bulls will actively defend this area and if they fail, the price will head towards 61500 - 59000, 56400, but the most likely scenario is a false breakdown of 64500 followed by price strengthening to the resistance of the 71500 range.
Support levels: 64500, rising line, 61500
Resistance levels: 70000, 71500
The coin continues to consolidate. Sooner or later this phase will move to the phase of realization (distribution), based on the general data it may be growth, but no one excludes dump and retest of lower liquids zones before further growth.
Regards R. Linda!
Note
"BTC is the only decentralized currency" - Tether CEOTrade active
Trade active
Situation on D1
The local setup is bearish. The coin may continue its decline.
Breakdown and consolidation of the price below 66000 will provoke further decline to 64589.
BUT! If the market starts to turn around, 67300 will be an intermediate boundary for the bulls. Consolidation above this area will cause the local mood to change to a bullish one
Trade active
66300Trade active
There may be an attempt to break the local descending resistance, which will be followed by a retest of 67232.
The level is quite important and it is worth paying attention to it
Trade active
The price on the local timeframe is heading towards 67250The level plays an important role
Trade active
Whales have sold 50,000 BTC in the last 10 days - Santiment dataTrade active
Rebound from resistanceTrade active
Testing 64600 supportTrade active
False break of support 64600Note
BTC is approaching the aggregate breakeven level of short-term holders 64500 - 65000. This area may become support, and if it is broken, we can expect a correction of 8-12%
Trade active
Trade active
After a strong rally there is no fall
Consolidation has been going on for four months....
Trade active
The last few days have seen very low volatility
🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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.