This Bitcoin price chart displays a comprehensive technical analysis with various indicators, Fibonacci retracement levels, trend lines, and potential price targets. Here’s a detailed breakdown:
Key Observations
1. Price Action and Trend
• The chart shows Bitcoin’s price movement within a long-term ascending channel (marked by two blue trend lines).
• The price is currently trading at $80,290, having recently corrected from a higher peak.
2. Fibonacci Retracement Levels
• Critical Fibonacci levels are marked:
• 0.236 (87,619)
• 0.382 (111,958)
• 0.5 (122,960)
• 0.618 (133,980)
• 0.786 (149,656)
• These levels act as potential support and resistance points. Currently, Bitcoin seems to be consolidating between the 0.236 and 0.382 levels.
3. Support and Resistance Zones
• Major Support Levels: $73,713, $62,797, $51,620
• Key Resistance Levels: $109,356, $111,662, $133,756
• Bitcoin’s current price structure suggests potential retests of lower support zones if the downward momentum persists.
4. Potential Price Targets
• The upper channel resistance targets around $140,000 to $150,000.
• Bullish breakout could aim for the 1.618 Fibonacci extension, approximately $169,625.
5. Indicators
• Moving Averages (Red, Green, Yellow lines) show long-term bullish momentum despite the recent pullback.
• Stochastic RSI (bottom panel) appears to be in the oversold region, hinting at potential upward momentum in the near term.
• RSI indicates a decline in momentum but remains in a neutral zone.
6. Volume Analysis
• Volume spikes during recent bullish moves suggest strong buying interest; however, current volume levels are declining, indicating potential consolidation before the next major move.
7. Pattern Analysis
• Bitcoin appears to have completed a rounded bottom pattern, which often signals a bullish continuation.
• The correction phase may stabilize around key Fibonacci levels before a potential breakout.
Outlook and Strategy
• Bullish Scenario: If Bitcoin holds the $73,713 support zone and RSI shows upward momentum, a push towards $111,662 and higher resistance zones is possible.
• Bearish Scenario: A failure to hold the $73,713 zone may result in further declines toward $62,797 or $51,620.
Conclusion
• Current conditions favor a cautious bullish outlook with potential consolidation before a significant breakout.
• Keeping an eye on volume increases and RSI movements will provide clearer entry and exit signals.
this chart does suggest the formation of a Head and Shoulders pattern, a classic bearish reversal pattern in technical analysis. Let’s break it down step by step:
Head and Shoulders Pattern Analysis
A Head and Shoulders pattern is characterized by three peaks:
• Left Shoulder – A peak followed by a decline.
• Head – A higher peak followed by another decline.
• Right Shoulder – A peak similar to the left shoulder, followed by a breakdown.
• Neckline – A support line connecting the lows between the shoulders and the head.
Identifying the Pattern on the Chart
1. Left Shoulder:
• Occurred around mid-2024, where Bitcoin rallied and then pulled back.
2. Head:
• The peak formed in late 2024 to early 2025, marking the highest point in this pattern (near $110,000+).
3. Right Shoulder:
• The second peak was lower than the head, aligning around $95,000 - $100,000, forming the right shoulder.
4. Neckline:
• The neckline appears to be in the $73,713 - $76,313 range, aligning with key Fibonacci support levels.
5. Breakdown:
• Bitcoin’s price has currently fallen below the right shoulder zone and is testing the neckline support.
Potential Price Movement
• If Bitcoin breaks decisively below the neckline (around $73,713) with significant volume, this confirms the bearish Head and Shoulders pattern.
• The potential target price for the breakdown is calculated using the following formula:

Example Calculation:
• Head Peak = ~$110,000
• Neckline = ~$73,713
• Projected Target = $73,713 - (110,000 - 73,713)
• Projected Target = ~$37,426
Key Confirmation Factors
✅ Strong selling pressure with high volume at the neckline breakdown.
✅ RSI trending downward and confirming bearish momentum.
✅ Price rejection at resistance zones during recovery attempts.
Strategy Considerations
• Short Positions: Traders may consider shorting Bitcoin if the neckline breaks decisively, with stop-loss set just above the right shoulder zone.
• Long-term Investors: It’s essential to monitor volume and macroeconomic factors since Bitcoin has historically shown resilience in bullish trends.
Summary
• The Head and Shoulders pattern appears valid.
• The neckline at ~$73,713 is a critical support zone; losing this level could trigger a significant drop toward $40,000 - $50,000.
• A bullish reversal could occur if Bitcoin stabilizes above the neckline and reclaims resistance zones.
Key Observations
1. Price Action and Trend
• The chart shows Bitcoin’s price movement within a long-term ascending channel (marked by two blue trend lines).
• The price is currently trading at $80,290, having recently corrected from a higher peak.
2. Fibonacci Retracement Levels
• Critical Fibonacci levels are marked:
• 0.236 (87,619)
• 0.382 (111,958)
• 0.5 (122,960)
• 0.618 (133,980)
• 0.786 (149,656)
• These levels act as potential support and resistance points. Currently, Bitcoin seems to be consolidating between the 0.236 and 0.382 levels.
3. Support and Resistance Zones
• Major Support Levels: $73,713, $62,797, $51,620
• Key Resistance Levels: $109,356, $111,662, $133,756
• Bitcoin’s current price structure suggests potential retests of lower support zones if the downward momentum persists.
4. Potential Price Targets
• The upper channel resistance targets around $140,000 to $150,000.
• Bullish breakout could aim for the 1.618 Fibonacci extension, approximately $169,625.
5. Indicators
• Moving Averages (Red, Green, Yellow lines) show long-term bullish momentum despite the recent pullback.
• Stochastic RSI (bottom panel) appears to be in the oversold region, hinting at potential upward momentum in the near term.
• RSI indicates a decline in momentum but remains in a neutral zone.
6. Volume Analysis
• Volume spikes during recent bullish moves suggest strong buying interest; however, current volume levels are declining, indicating potential consolidation before the next major move.
7. Pattern Analysis
• Bitcoin appears to have completed a rounded bottom pattern, which often signals a bullish continuation.
• The correction phase may stabilize around key Fibonacci levels before a potential breakout.
Outlook and Strategy
• Bullish Scenario: If Bitcoin holds the $73,713 support zone and RSI shows upward momentum, a push towards $111,662 and higher resistance zones is possible.
• Bearish Scenario: A failure to hold the $73,713 zone may result in further declines toward $62,797 or $51,620.
Conclusion
• Current conditions favor a cautious bullish outlook with potential consolidation before a significant breakout.
• Keeping an eye on volume increases and RSI movements will provide clearer entry and exit signals.
this chart does suggest the formation of a Head and Shoulders pattern, a classic bearish reversal pattern in technical analysis. Let’s break it down step by step:
Head and Shoulders Pattern Analysis
A Head and Shoulders pattern is characterized by three peaks:
• Left Shoulder – A peak followed by a decline.
• Head – A higher peak followed by another decline.
• Right Shoulder – A peak similar to the left shoulder, followed by a breakdown.
• Neckline – A support line connecting the lows between the shoulders and the head.
Identifying the Pattern on the Chart
1. Left Shoulder:
• Occurred around mid-2024, where Bitcoin rallied and then pulled back.
2. Head:
• The peak formed in late 2024 to early 2025, marking the highest point in this pattern (near $110,000+).
3. Right Shoulder:
• The second peak was lower than the head, aligning around $95,000 - $100,000, forming the right shoulder.
4. Neckline:
• The neckline appears to be in the $73,713 - $76,313 range, aligning with key Fibonacci support levels.
5. Breakdown:
• Bitcoin’s price has currently fallen below the right shoulder zone and is testing the neckline support.
Potential Price Movement
• If Bitcoin breaks decisively below the neckline (around $73,713) with significant volume, this confirms the bearish Head and Shoulders pattern.
• The potential target price for the breakdown is calculated using the following formula:

Example Calculation:
• Head Peak = ~$110,000
• Neckline = ~$73,713
• Projected Target = $73,713 - (110,000 - 73,713)
• Projected Target = ~$37,426
Key Confirmation Factors
✅ Strong selling pressure with high volume at the neckline breakdown.
✅ RSI trending downward and confirming bearish momentum.
✅ Price rejection at resistance zones during recovery attempts.
Strategy Considerations
• Short Positions: Traders may consider shorting Bitcoin if the neckline breaks decisively, with stop-loss set just above the right shoulder zone.
• Long-term Investors: It’s essential to monitor volume and macroeconomic factors since Bitcoin has historically shown resilience in bullish trends.
Summary
• The Head and Shoulders pattern appears valid.
• The neckline at ~$73,713 is a critical support zone; losing this level could trigger a significant drop toward $40,000 - $50,000.
• A bullish reversal could occur if Bitcoin stabilizes above the neckline and reclaims resistance zones.
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.
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.