Bitcoin is approaching a key inflection zone where the Daily Downtrend Resistance and the Monthly Uptrend Support intersect. This confluence could be setting the stage for a major breakout or breakdown, and the next move could define BTC’s medium-term trend.
🧠 Key Levels to Watch:
Daily Downtrend Resistance (Red) – Price is testing this descending trendline again.
Monthly Uptrend Support (Green) – Strong support held since August 2024.
Fibonacci 0.5 Level (~79.3K) – Acting as mid-zone control point.
Fibonacci 0.618 Golden Zone (~72K) – Strong historical retracement support.
🟦 Bullish Scenario (Blue Arrow):
If BTC breaks above the daily downtrend and holds above the green uptrend line:
Possible target: 110K, aligning with the 1.0 Fibonacci extension.
Would confirm continuation of the larger bullish trend.
🔻 Bearish Scenario (Not drawn but implied):
If BTC breaks down below 79K and the monthly trendline:
Eyes on 72K for a potential bounce at the 0.618 Fib level.
Below that, potential deeper retracement toward the 65K–60K zone.
⏳ Conclusion:
BTC is sitting at a high-confluence zone. This is not the time to chase—wait for confirmation of breakout or breakdown before reacting.
🧠 Key Levels to Watch:
Daily Downtrend Resistance (Red) – Price is testing this descending trendline again.
Monthly Uptrend Support (Green) – Strong support held since August 2024.
Fibonacci 0.5 Level (~79.3K) – Acting as mid-zone control point.
Fibonacci 0.618 Golden Zone (~72K) – Strong historical retracement support.
🟦 Bullish Scenario (Blue Arrow):
If BTC breaks above the daily downtrend and holds above the green uptrend line:
Possible target: 110K, aligning with the 1.0 Fibonacci extension.
Would confirm continuation of the larger bullish trend.
🔻 Bearish Scenario (Not drawn but implied):
If BTC breaks down below 79K and the monthly trendline:
Eyes on 72K for a potential bounce at the 0.618 Fib level.
Below that, potential deeper retracement toward the 65K–60K zone.
⏳ Conclusion:
BTC is sitting at a high-confluence zone. This is not the time to chase—wait for confirmation of breakout or breakdown before reacting.
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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.