As of today’s close, Bitcoin (BTCUSD) is showing early signs of a potential bullish reversal from a key mid-range Keltner Channel support zone. The recent Heikin Ashi candle reflects a strong recovery after a brief sell-off, with price rejecting lower support levels and closing firmly within the mid-band.
🔹 Key Observations:
Support Zone Respected: Price action respected the mid-Keltner Channel support, suggesting underlying buying interest around the $103k–$104k range.
Momentum Shift: The bullish engulfing nature of the current candle implies a potential shift in momentum, especially after recent consolidation below the upper range.
🔹Trade Idea: TP is near $112k, SL just under $102k.
Continued confirmation above the mid-band and sustained bullish volume will be critical for this move to extend.
🔹 Key Observations:
Support Zone Respected: Price action respected the mid-Keltner Channel support, suggesting underlying buying interest around the $103k–$104k range.
Momentum Shift: The bullish engulfing nature of the current candle implies a potential shift in momentum, especially after recent consolidation below the upper range.
🔹Trade Idea: TP is near $112k, SL just under $102k.
Continued confirmation above the mid-band and sustained bullish volume will be critical for this move to extend.
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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.