BTC/USDT Daily Analysis
Technical Outlook — 10 April 2025
Current Market Condition:
BTC/USDT is currently trading within a descending channel on the daily timeframe, respecting the upper and lower trendlines. Price recently encountered resistance near the upper channel trendline and is showing signs of potential bearish continuation.
Key Technical Highlights:
Possible Scenarios:
Bearish Scenario (High Probability):
Bullish Scenario (Invalidation Level):
Important Note:
Monitor Bitcoin-related news and market sentiment, which can significantly impact price action.
Wait for clear candle confirmations at the channel trendlines or key support/resistance levels before entering trades.
Employ appropriate risk management, including setting stop-loss orders to protect your capital.
If you found this analysis valuable, kindly consider boosting and following for more updates.
Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
Technical Outlook — 10 April 2025
Current Market Condition:
BTC/USDT is currently trading within a descending channel on the daily timeframe, respecting the upper and lower trendlines. Price recently encountered resistance near the upper channel trendline and is showing signs of potential bearish continuation.
Key Technical Highlights:
- Price action confined within a well-defined descending channel.
- Recent rejection from the upper trendline of the descending channel, indicating continued bearish pressure.
- Trading below the 50-day and 200-day Exponential Moving Averages (EMAs), reinforcing the bearish sentiment on the daily timeframe.
- Key Resistance level identified near the upper channel trendline (around $88,000 - $90,000).
- Key Support zone identified near the lower channel trendline (around $68,000 - $70,000) and a further potential support zone around $54,000 - $56,000.
- Momentum oscillator showing bearish momentum or a potential bearish crossover.
Possible Scenarios:
Bearish Scenario (High Probability):
- If price continues to respect the descending channel and remains below the upper trendline, expect bearish continuation towards the lower channel trendline in the $68,000 - $70,000 zone.
- A confirmed break below the middle of the channel (around $78,000 - $80,000) could accelerate the move towards the lower support.
- Confluence of the descending channel resistance and the EMAs adds to the potential selling pressure.
Bullish Scenario (Invalidation Level):
- A strong break and sustained trading above the upper trendline of the descending channel (around $90,000) would invalidate the bearish channel structure and could lead to a potential move towards the $100,000 resistance level.
- Bullish reversal signals forming near the middle or lower trendline of the channel could also present short-term long opportunities, but these would be counter-trend within the larger bearish structure.
Important Note:
Monitor Bitcoin-related news and market sentiment, which can significantly impact price action.
Wait for clear candle confirmations at the channel trendlines or key support/resistance levels before entering trades.
Employ appropriate risk management, including setting stop-loss orders to protect your capital.
If you found this analysis valuable, kindly consider boosting and following for more updates.
Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
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.
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.