Bitcoin Update !!
The BTC/USDT chart shows that Bitcoin has returned to its all-time high range, approaching a crucial resistance area around $72,000 – $73,000.
Bitcoin has reached the historical resistance level, marked by the orange line. This area has triggered retracements, indicating that BTC may face selling pressure.
The red arrow indicates a potential pullback scenario if BTC fails to break and hold above this resistance. In this case, BTC could retrace towards the $64,000 level or lower support areas within the descending channel.
If BTC successfully breaks this resistance with strong volumes, it could confirm a bullish continuation toward new highs. Rejection could signal consolidation or a downward correction.
Monitor any breakout or rejection signals around this resistance area to anticipate BTC’s next move.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
Bitcoin has reached the historical resistance level, marked by the orange line. This area has triggered retracements, indicating that BTC may face selling pressure.
The red arrow indicates a potential pullback scenario if BTC fails to break and hold above this resistance. In this case, BTC could retrace towards the $64,000 level or lower support areas within the descending channel.
If BTC successfully breaks this resistance with strong volumes, it could confirm a bullish continuation toward new highs. Rejection could signal consolidation or a downward correction.
Monitor any breakout or rejection signals around this resistance area to anticipate BTC’s next move.
Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
You can DM us for information on any other coin.
@Peter_CSAdmin
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.