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Bitcoin Reversal? Demand Zone Holding Strong!

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BTCUSD has shown a strong reaction to the Demand Zone, indicating potential bottom formation. The price has tested this level multiple times, suggesting institutional interest and a possible bullish reversal.

🔹 1.272 | Conservative Takeprofit → 116,847.33 USD (+19%)
🔹 1.618 | Most common Takeprofit after retracement → 123,783.73 USD (+26%)
🔹 2 | Strong uptrend Takeprofit → 133,358.11 USD (+36%)

With a favorable risk-to-reward setup, Bitcoin could be positioned for a significant upward move. Will BTC reach these Fibonacci targets? 📈

What’s your view on this setup? Drop your thoughts in the comments! 👇
ProcessAndIntercept
Bitcoin (Cryptocurrency)BTCUSDBullish PatternscryptomarketcryptotradingDemand ZoneFibonacciHarmonic PatternsSupply and DemandTechnical Analysistradingsetup

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Bitcoin (Cryptocurrency)BTCUSDBullish PatternscryptomarketcryptotradingDemand ZoneFibonacciHarmonic PatternsSupply and DemandTechnical Analysistradingsetup
ProcessAndIntercept

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.