Bitcoin (BTC/USDT) Technical Analysis – Possible Move
📉 Recent Price Action:
Bitcoin has been in a downtrend, forming lower highs and lower lows. However, a downtrend trendline has been broken, signaling a potential reversal or at least a relief rally.
📌 Key Observations:
Fibonacci Levels: The price recently bounced from the 0.618 Fibonacci retracement level (~$81,051), a strong support zone.
Support Zone (~$82,325 - $83,700): Price is currently testing a previous resistance-turned-support level.
Liquidity Grab & Rebound: If BTC holds above $83,700, we could see a bullish push.
🚀 Potential Bullish Scenario:
If Bitcoin maintains support above $83,700, it could retest $86,500 - $89,500, aligning with key Fibonacci extension levels.
A strong break above $89,500 could push BTC toward the $91,000 - $92,500 supply zone (marked in blue).
⚠️ Bearish Risk:
Losing the $82,325 support could lead to another retest of the $79,000 level.
A rejection at $86,500 - $89,500 could bring consolidation before a clearer trend emerges.
Bitcoin has been in a downtrend, forming lower highs and lower lows. However, a downtrend trendline has been broken, signaling a potential reversal or at least a relief rally.
📌 Key Observations:
Fibonacci Levels: The price recently bounced from the 0.618 Fibonacci retracement level (~$81,051), a strong support zone.
Support Zone (~$82,325 - $83,700): Price is currently testing a previous resistance-turned-support level.
Liquidity Grab & Rebound: If BTC holds above $83,700, we could see a bullish push.
🚀 Potential Bullish Scenario:
If Bitcoin maintains support above $83,700, it could retest $86,500 - $89,500, aligning with key Fibonacci extension levels.
A strong break above $89,500 could push BTC toward the $91,000 - $92,500 supply zone (marked in blue).
⚠️ Bearish Risk:
Losing the $82,325 support could lead to another retest of the $79,000 level.
A rejection at $86,500 - $89,500 could bring consolidation before a clearer trend emerges.
Trade closed: target reached
#btc #btcusdt #btcusd
pointed area touched
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👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
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.
👉 My recommended exchange(you can get up to $5050 bonuses): lbank.one/join/uF7u10M
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
Related publications
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.