Bitcoin at $92,000 is crucial. $92.3K aligns perfectly with VWAP on the 1-day timeframe, this confluence makes 
92K a crucial support level that represents the "fair value" of Bitcoin based on both price and volume in other words buyers and sellers agree on value. A breakdown at this point would signify that sellers are gaining control, making a shift in market sentiment.
A Breakdown of $92,000 could cause panic, triggering a cascade of liquidations and further declines.
$74K and $72K are Major Confluence Zone, the SMA200 and VWAP align at $72K creating a strong confluence this makes it a CRITICAL SUPPORT LEVEL that could act as potential reversal point or
attract significant buying interest (optimal buy zone).
While the immediate risk of Bitcoin breaking down $92,000 and retest $74,000 zone looms large, the broader macro environment under the next Bitcoin-supportive administration has great potential to counterbalance market fears.
92K a crucial support level that represents the "fair value" of Bitcoin based on both price and volume in other words buyers and sellers agree on value. A breakdown at this point would signify that sellers are gaining control, making a shift in market sentiment.A Breakdown of $92,000 could cause panic, triggering a cascade of liquidations and further declines.
$74K and $72K are Major Confluence Zone, the SMA200 and VWAP align at $72K creating a strong confluence this makes it a CRITICAL SUPPORT LEVEL that could act as potential reversal point or
attract significant buying interest (optimal buy zone).
While the immediate risk of Bitcoin breaking down $92,000 and retest $74,000 zone looms large, the broader macro environment under the next Bitcoin-supportive administration has great potential to counterbalance market fears.
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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.