Current Market Overview:
Price: $83,295
24h Change: -1.24% (-$1,043.43)
Exchange: Binance (2-Day Timeframe)
Technical Breakdown:
Support Levels:
38.2% Fibonacci Retracement: ~$77,262 – This level has acted as a significant support area.
Trendline Support: Bitcoin is currently bouncing off a key ascending trendline that has been respected since mid-2023.
Major Fibonacci Support: Lower retracement levels at $67,346 (50%), $57,430 (61.8%), and $50,539 (70%) indicate potential deeper corrections if the trendline breaks.
Resistance Levels:
Key Resistance at $106,183 - $109,588: A breakout above this zone could trigger a rally toward new all-time highs.
Psychological Level at $100,000: A critical milestone for BTC that could act as temporary resistance.
Bullish Scenario:
If Bitcoin maintains support above the 38.2% Fibonacci retracement and trendline, a potential breakout above $109,588 could push prices toward $130,000.
The upward projection aligns with historical price action and Fibonacci extensions.
Bearish Scenario:
A break below $77,262 could lead to further downside, with possible retracements to $67,346 (50%) or lower levels like $50,539 (70%).
The long-term trendline breakdown would be a major bearish signal.
Conclusion & Strategy:
Short-Term: Look for confirmation of support at $77,262 before entering long positions.
Mid-Term: If BTC breaks $109,588 with volume confirmation, a bullish rally toward $130,000 is likely.
Risk Management: A drop below $77,000 could invalidate the bullish setup, prompting caution.
🚀 Bullish Outlook Above $109,588 | ⚠️ Caution Below $77,000
Price: $83,295
24h Change: -1.24% (-$1,043.43)
Exchange: Binance (2-Day Timeframe)
Technical Breakdown:
Support Levels:
38.2% Fibonacci Retracement: ~$77,262 – This level has acted as a significant support area.
Trendline Support: Bitcoin is currently bouncing off a key ascending trendline that has been respected since mid-2023.
Major Fibonacci Support: Lower retracement levels at $67,346 (50%), $57,430 (61.8%), and $50,539 (70%) indicate potential deeper corrections if the trendline breaks.
Resistance Levels:
Key Resistance at $106,183 - $109,588: A breakout above this zone could trigger a rally toward new all-time highs.
Psychological Level at $100,000: A critical milestone for BTC that could act as temporary resistance.
Bullish Scenario:
If Bitcoin maintains support above the 38.2% Fibonacci retracement and trendline, a potential breakout above $109,588 could push prices toward $130,000.
The upward projection aligns with historical price action and Fibonacci extensions.
Bearish Scenario:
A break below $77,262 could lead to further downside, with possible retracements to $67,346 (50%) or lower levels like $50,539 (70%).
The long-term trendline breakdown would be a major bearish signal.
Conclusion & Strategy:
Short-Term: Look for confirmation of support at $77,262 before entering long positions.
Mid-Term: If BTC breaks $109,588 with volume confirmation, a bullish rally toward $130,000 is likely.
Risk Management: A drop below $77,000 could invalidate the bullish setup, prompting caution.
🚀 Bullish Outlook Above $109,588 | ⚠️ Caution Below $77,000
Note
BTCUSD analysis is proving accurate! 📈 Massive profits rolling in. Chart shows strong potential for further growth. 
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Disclaimer
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📈Forex Telegram Alerts
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
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.