[BTC/USD: Long-Term Outlook]
Current Situation:
Bitcoin's current price is approximately 94,862 USD, with a 3.21% drop.
On the weekly time frame, there is a strong upward trend where the price has climbed from lower levels to a new high above 90,000 USD.
The last correction stalled in the 65,000–70,000 USD zone (highlighted in red on the chart), confirming this as a strong support area.
Key Technical Confirmations:
Support Zone (Buy Zone):
The price rallied from the 65,000–70,000 USD area. This zone is significant as it was a prior accumulation area that led to the breakout to higher levels.
Liquidity within the support zone ("$$$") has already been filled, signaling strong buyer interest.
Bullish Structure (Higher Highs & Higher Lows):
The chart shows a clear formation of higher highs and higher lows, confirming the long-term bullish trend.
Imbalance and Strong Volume:
A large green candle with significant momentum suggests a strong bullish move. The volume during this rally was the highest in the past year, further reinforcing the trend.
Psychological Level – 100,000 USD:
The 100,000 USD level is an important psychological barrier, likely acting as a magnet for buyers and sellers. This remains a reachable long-term target.
Scenarios:
Bullish Scenario:
If the price stays above the 65,000–70,000 USD support zone, further upward movement is expected.
The first target is 100,000 USD (psychological level), with potential to break higher toward 110,000 USD or beyond if volume increases.
Bearish Scenario:
If the price falls below 65,000 USD and breaks the structure, a deeper correction toward 50,000 USD (liquidity zone marked "$$$") may occur.
My Long-Term Projection:
Given the current technical picture and strong bullish trend, my bias is bullish. I expect BTC/USD to reach 100,000 USD in the coming months and potentially test the 110,000 USD zone or higher, assuming the bullish structure remains intact.
Trade Plan:
Entry (Buy): On a retest of the 70,000–75,000 USD zone, if the price revisits this support.
Stop Loss: Below 65,000 USD (under the previous support zone).
Targets (Take Profit):
TP1: 100,000 USD
TP2: 110,000 USD
Disclaimer:
This is solely a personal analysis and does not constitute financial advice. Please use your own analysis and manage your risk appropriately.
Bitcoin's current price is approximately 94,862 USD, with a 3.21% drop.
On the weekly time frame, there is a strong upward trend where the price has climbed from lower levels to a new high above 90,000 USD.
The last correction stalled in the 65,000–70,000 USD zone (highlighted in red on the chart), confirming this as a strong support area.
Key Technical Confirmations:
Support Zone (Buy Zone):
The price rallied from the 65,000–70,000 USD area. This zone is significant as it was a prior accumulation area that led to the breakout to higher levels.
Liquidity within the support zone ("$$$") has already been filled, signaling strong buyer interest.
Bullish Structure (Higher Highs & Higher Lows):
The chart shows a clear formation of higher highs and higher lows, confirming the long-term bullish trend.
Imbalance and Strong Volume:
A large green candle with significant momentum suggests a strong bullish move. The volume during this rally was the highest in the past year, further reinforcing the trend.
Psychological Level – 100,000 USD:
The 100,000 USD level is an important psychological barrier, likely acting as a magnet for buyers and sellers. This remains a reachable long-term target.
Scenarios:
Bullish Scenario:
If the price stays above the 65,000–70,000 USD support zone, further upward movement is expected.
The first target is 100,000 USD (psychological level), with potential to break higher toward 110,000 USD or beyond if volume increases.
Bearish Scenario:
If the price falls below 65,000 USD and breaks the structure, a deeper correction toward 50,000 USD (liquidity zone marked "$$$") may occur.
My Long-Term Projection:
Given the current technical picture and strong bullish trend, my bias is bullish. I expect BTC/USD to reach 100,000 USD in the coming months and potentially test the 110,000 USD zone or higher, assuming the bullish structure remains intact.
Trade Plan:
Entry (Buy): On a retest of the 70,000–75,000 USD zone, if the price revisits this support.
Stop Loss: Below 65,000 USD (under the previous support zone).
Targets (Take Profit):
TP1: 100,000 USD
TP2: 110,000 USD
Disclaimer:
This is solely a personal analysis and does not constitute financial advice. Please use your own analysis and manage your risk appropriately.
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.