Bitcoin (BTC/USD) Technical Analysis – Potential Breakout Format
hello traders
what is your thoughts on BTC.
My Analysis:
The chart shows a falling wedge pattern, which is generally a bullish reversal signal.
The price has broken out of the wedge and is now approaching the resistance zone (support area turned resistance) around $83,000.
A successful breakout above this zone could trigger a strong upward move, as indicated by the blue arrow.
Volume has increased significantly, suggesting potential buying pressure.
If BTC rejects this resistance zone, a retest of the previous support level might occur before another attempt to move higher.
what is your thoughts on BTC.
My Analysis:
The chart shows a falling wedge pattern, which is generally a bullish reversal signal.
The price has broken out of the wedge and is now approaching the resistance zone (support area turned resistance) around $83,000.
A successful breakout above this zone could trigger a strong upward move, as indicated by the blue arrow.
Volume has increased significantly, suggesting potential buying pressure.
If BTC rejects this resistance zone, a retest of the previous support level might occur before another attempt to move higher.
Trade active
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Forex Gold & Crypto signals with detailed analysis & get consistent results..
t.me/forex_signal_dollarsman
Forex Gold & Crypto signals with detailed analysis & get consistent results..
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.
join telegram channel free..
t.me/forex_signal_dollarsman
Forex Gold & Crypto signals with detailed analysis & get consistent results..
t.me/forex_signal_dollarsman
Forex Gold & Crypto signals with detailed analysis & get consistent results..
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.