BTCUSDT BREAKOUT OR REJECTION?
🔹 Current Situation:
Bitcoin is once again testing the top of its long-standing channel, currently around $69,000. Here are the two primary scenarios to monitor:
🔹 Bullish Breakout Path:
If BTC successfully breaks through the channel top and clears the previous high of $69,600, it may initiate a move toward the $71,000–$72,000 zone. The expected sequence in this scenario is:
🔹 Bearish Breakdown Path:
On the downside, a break below $67,500 could signal weakness and shift momentum towards a deeper decline. In this case:
First Target: $63,700
🔹 Divergences:
Bearish divergences are forming across multiple timeframes, suggesting potential downside pressure if a breakout fails.
Disclaimer:
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital.
Bitcoin is once again testing the top of its long-standing channel, currently around $69,000. Here are the two primary scenarios to monitor:
🔹 Bullish Breakout Path:
If BTC successfully breaks through the channel top and clears the previous high of $69,600, it may initiate a move toward the $71,000–$72,000 zone. The expected sequence in this scenario is:
- Initial test of the $69,600 high
- Retest of the channel top as support
- Strong rally toward the $71,000–$72,000 target zone
🔹 Bearish Breakdown Path:
On the downside, a break below $67,500 could signal weakness and shift momentum towards a deeper decline. In this case:
First Target: $63,700
🔹 Divergences:
Bearish divergences are forming across multiple timeframes, suggesting potential downside pressure if a breakout fails.
Disclaimer:
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital.
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.