Short Note on BTC/USD (15-Min Chart):
Bitcoin recently broke down from an ascending channel, signaling a shift in momentum. After forming a QFL base, price failed to hold above the 50% retracement level and is now testing a key demand zone around $117,200. A bounce from this level is possible, but a breakdown below may open the path toward $116,000–$115,000. Short-term bias remains bearish unless the 50% level is reclaimed.
thanking you
Bitcoin recently broke down from an ascending channel, signaling a shift in momentum. After forming a QFL base, price failed to hold above the 50% retracement level and is now testing a key demand zone around $117,200. A bounce from this level is possible, but a breakdown below may open the path toward $116,000–$115,000. Short-term bias remains bearish unless the 50% level is reclaimed.
thanking you
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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.