#BTCUSD
Timeframe: DAILY
BTCUSD remains in a consolidation phase after a strong bullish rally 📈, respecting the support zone near $34,000. Price action is forming a descending wedge pattern, signaling potential accumulation.
Currently, BTC is hovering near the wedge’s lower boundary and the support zone, indicating a possible breakout. A bullish break above $38,000 could send the price rallying toward the next resistance levels of $42,000 and $45,000. However, if the $34,000 support fails, we could see a pullback to the ascending trendline around $30,000.
For now, the structure hints at bullish potential, but patience is key to confirm direction. 🔍
Timeframe: DAILY
BTCUSD remains in a consolidation phase after a strong bullish rally 📈, respecting the support zone near $34,000. Price action is forming a descending wedge pattern, signaling potential accumulation.
Currently, BTC is hovering near the wedge’s lower boundary and the support zone, indicating a possible breakout. A bullish break above $38,000 could send the price rallying toward the next resistance levels of $42,000 and $45,000. However, if the $34,000 support fails, we could see a pullback to the ascending trendline around $30,000.
For now, the structure hints at bullish potential, but patience is key to confirm direction. 🔍
Note
Parameters are wrong. Will edit in next btc update
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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.