Bitcoin / TetherUSUpdated Bitcoin (BTC/USDT) Testing Key Support: Breakout or Further Decl
1. Trend & Price Action:
Bitcoin is still moving within an ascending channel (blue zone).
The price recently declined sharply from around 105,000 USDT and is now testing the lower boundary of the channel.
The midline (red dashed line) previously acted as support but is now behaving as resistance.
2. Key Support & Resistance Levels:
Support: 101,000 USDT (lower boundary of the channel).
Resistance: 103,000 USDT (midline resistance).
3. Possible Scenarios:
Bullish Scenario (Blue Path): If Bitcoin holds support at 101,000–102,000, it may attempt a recovery, possibly retesting 103,000.
Bearish Scenario (Red Path): If BTC fails to hold support, a breakdown below 101,000 could lead to further downside pressure.
4. Trading Strategy Considerations:
A break above 103,000 USDT would signal a potential bullish continuation.
A break below 101,000 USDT may indicate a deeper correcti
Trade closed: target reached
🎯 Target Hit! Another Successful Trade! 🎯
Patience and strategy always pay off! As predicted, our BTC analysis played out perfectly, hitting our target with precision. 🚀🔥
This is why we trust the process, respect market structure, and execute with confidence.
Huge thanks to all my amazing followers for your support! Let's keep learning and winning together! 💰📊
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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.