BTC/USD: Low Volume Hints at Bearish ReversalTechnical Overview:
1. Primary Ascending Channel: BTC/USD is trading within a long-term ascending channel, indicating an overall bullish trend that has persisted over multiple years. This channel’s upper boundary has now become a critical resistance zone around the $92,805 level.
2. Historical ATH Levels:
BTC reached all-time highs (ATH) in April 2021 and November 2021 within a bullish channel. The price then experienced a bearish breakout from this channel.
The most recent ATH in November 2024 is near $92,805, aligning with the upper resistance zone of the primary ascending channel. This level serves as a significant barrier to further bullish momentum unless a breakout occurs.
3. Volume Trend:
The chart highlights a diminishing volume trend since previous highs in 2018 and 2021. This lower volume indicates weaker buying interest, which often precedes a potential reversal or significant correction.
A notable observation is that low volume, as seen here, could signal an impending strong bearish move due to insufficient support to sustain higher prices.
4. Key Observations:
- Bullish Scenario: To confirm the bullish trend, BTC/USD needs to break above $93,000. A sustained breakout beyond this level could signal a continuation of the uptrend.
- Bearish Scenario: Failing to break above $93,000 could lead to a pullback towards the pivot area near $71,000 and $49700. The low volume trend suggests a strong bearish move may be imminent if BTC/USD cannot sustain its current position near the resistance zone.
5. Trend Outlook:
Consolidation: BTC/USD may consolidate within the resistance and first support line zone, allowing the market to gather momentum for a potential breakout.
Bearish Bias: Given the low volume and historical pattern of corrections following ATHs, a bearish move toward $71,000 and $49700 is plausible if resistance at $93,000 holds.
Conclusion:
BTC/USD is at a critical junction. The resistance level at $93,000 is key to continuing the bullish trend within the primary ascending channel. However, the diminishing volume suggests caution, as failure to break this resistance may lead to a bearish correction toward $71,000. Traders should monitor these levels closely for breakout confirmation or signs of reversal.
Btcbearishscenario
BTC dump scenario#BTC/USD
🐻 A bearish scenario
Weekly Fib time zone shows me that price can be at the top of the swing between 2.272 and 2.414 which is around the end of Aug.
so I think price can make a top at the resistance zone around $27k.
then start a downtrend and break down from the triangle or dump hard.
BTC Blow Off Top?Looking at history and the old ATH we saw a similar structure forming for the Bitcoin price. A big consolidation range at the 30k area forming demand before marking up and forming a classic Wyckoff Distribution back down to that same area. Things are looking pretty similar now where we had the same consolidation at 40k forming a big demand area for Bitcoin. Looks like we might have had the buying climax for Bitcoin and are moving to stage two of the Wyckoff Distribution which is the upthrust. Now there is ofc no guarantee in any of this but I thought it would be nice to share to keep in mind.
BTC continuation fall and targets (short term dumping)Hello all!
This description will be short, my sentiment on BTC is bearish and I think if we can reach these targets it will pave way for our bullish moves everyone would like to see eventually.
We have failed to make a bullish break from our structure, I expect bearish moves to continue for the next week or two.
This could be a short squeeze opportunity, it is likely this will be a bull trap converted into a bear trap. (In other words, we will go up and quickly, only after we go down fast🆗😄)
I do not expect to see 24k, but have included it as a possibility.
( On chart above patterns were analyzed on a 4hr TF, moved to 6 hour they are slightly different keep this in mind )
🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend lines etc. I always recommend looking at multiple charts when making a big investment, thank you!
Always have a stop loss ✋🛑💲 set🆗
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.😄
Jazerbay
BTC future Hello guys, I am here to share my idea about BTC.
- BTC is going to a lower level where it is going to find support. It is going to stay on that level for few weeks, and then drop once more.
- After the first drop and there will be a second one, allowing BTC to reach 18k or maybe more/less.
- Then we can expect a big pull back.
This is just a idea, do not take my words too seriously.
Let's use this post to talk about the BTC future and the reasons behind your ideas.
Possible Bearish scenario analysiswe are going to analysis two possibility , bearish and bullish scenario
which we are going to talk about the bearish scenario in this post and next post for bullish scenario.
we have two possible movement with in this bearish scenario.
1- retracing from the current area of 10200 - 9900 toward 7700-7300
2- going upward to 11200 area and then retrace back towards 9000 area and then 7700 area ( in the bullish scenario we may bounce back upward from 9000 to the upside)
we shall cover the bullish scenario in the next post .
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best of luck
Possible Bearish scenario analysis