BTC/USD
Timeframe: 1D
Bitcoin has broken down from its recent consolidation range and is currently trading around $86,894. This signals potential bearish momentum, with price likely to test lower support zones.
If BTC fails to reclaim the previous range, a deeper correction toward the $80,000-$78,000 zone is possible. A further drop could see price retesting the $74,000-$72,000 demand area.
However, if bulls reclaim the breakdown level and break above the descending trendline, BTC could push back toward $91,000+, continuing the larger uptrend. Price action near current levels will dictate the next move.
Timeframe: 1D
Bitcoin has broken down from its recent consolidation range and is currently trading around $86,894. This signals potential bearish momentum, with price likely to test lower support zones.
If BTC fails to reclaim the previous range, a deeper correction toward the $80,000-$78,000 zone is possible. A further drop could see price retesting the $74,000-$72,000 demand area.
However, if bulls reclaim the breakdown level and break above the descending trendline, BTC could push back toward $91,000+, continuing the larger uptrend. Price action near current levels will dictate the next move.
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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.