Hello guys!
BTC is currently trading within a well-defined descending channel, showing consistent lower highs and lower lows since mid-March.
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🔮 What's Next?
🎯 Bullish Scenario: After touching the lower level of the neckline, it goes to touch the top line of the channel and touches the target of the pattern.
.
⚠️ Bearish Scenario: Rejection from the $85K zone could send BTC back down toward
73K–$ 74 K. Further downside could bring the $69K–$70K zone into focus.
BTC is currently trading within a well-defined descending channel, showing consistent lower highs and lower lows since mid-March.
- Descending Channel: The upper and lower boundaries have acted as reliable resistance and support zones.
- Double Bottom Pattern: Price action recently formed a double bottom near the $75,000 zone (marked "HUNT2"), which is typically a bullish reversal signal.
- Breakout Target: The neckline breakout from the double bottom targets the $85,000–86,000 zone, which aligns with the upper boundary of the channel — a confluence resistance.
- Fakeouts (HUNT1 & HUNT2): These "hunt" zones likely represent liquidity grabs or stop-loss sweeps, indicating strong institutional manipulation before major moves.
______________________
🔮 What's Next?
🎯 Bullish Scenario: After touching the lower level of the neckline, it goes to touch the top line of the channel and touches the target of the pattern.
.
⚠️ Bearish Scenario: Rejection from the $85K zone could send BTC back down toward
73K–$ 74 K. Further downside could bring the $69K–$70K zone into focus.Trade active
Note
#btcusdt #btcThe first position which was a long position is towards the target and we should wait for getting confirmation of short at the pointed area!
Trade closed: target reached
the target of long position has been touched!
👉 My recommended broker: bit.ly/HYMCMELI
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Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
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 broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
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.