Bitcoin has reached a critical resistance level within its long-term ascending channel. A possible correction towards the $58,000 - $48,000 range could occur before the next upward impulse.
The blue dashed trendline represents a key support level that, if broken, may lead to a deeper retracement. However, a bounce from this area could trigger a bullish continuation towards the upper channel resistance at $120,000 in the long run.
Key levels to watch:
🔴 Resistance: $78,359
🟢 Major support levels: $58,632 & $48,324
What are your thoughts? Will Bitcoin retrace before its next bullish move? 🚀
The blue dashed trendline represents a key support level that, if broken, may lead to a deeper retracement. However, a bounce from this area could trigger a bullish continuation towards the upper channel resistance at $120,000 in the long run.
Key levels to watch:
🔴 Resistance: $78,359
🟢 Major support levels: $58,632 & $48,324
What are your thoughts? Will Bitcoin retrace before its next bullish move? 🚀
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.
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.