BTC is currently testing a key demand zone near the $84,800–$85,200 range, aligned with the ascending trendline support. This area has previously acted as a launchpad for bullish moves, making it a critical level to watch.
📌 Scenario 1 (Bullish):
If price holds above the yellow support zone and the trendline, we could see a bounce towards $86,800–$88,500.
Confirmation: Bullish engulfing on lower timeframe or break above local resistance.
📌 Scenario 2 (Bearish Breakdown):
If BTC breaks below the trendline + demand zone, we may see a sharp decline toward $83,000–$82,000.
Watch for a retest of broken support as resistance.
🧠 Plan: Wait for confirmation. No rush entry.
Entry will depend on price action and reaction to this confluence zone.
Risk management is key with proper SL below/above zones.
Let me know your views in comments!
📌 Scenario 1 (Bullish):
If price holds above the yellow support zone and the trendline, we could see a bounce towards $86,800–$88,500.
Confirmation: Bullish engulfing on lower timeframe or break above local resistance.
📌 Scenario 2 (Bearish Breakdown):
If BTC breaks below the trendline + demand zone, we may see a sharp decline toward $83,000–$82,000.
Watch for a retest of broken support as resistance.
🧠 Plan: Wait for confirmation. No rush entry.
Entry will depend on price action and reaction to this confluence zone.
Risk management is key with proper SL below/above zones.
Let me know your views in comments!
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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.
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.