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BTCBTC/USDT Technical Analysis: Potential Retracement Before Continuation In the current technical setup, Bitcoin's price is forming a Bullish Flag pattern, which suggests a continuation of the upward trend after a temporary retracement. Here’s a detailed breakdown of the analysis: Support Levels Within the Bull Flag The lower boundary of the bull flag aligns with key support zones at 84K, 86K, and 87K USDT. A potential wick to 77K USDT is also possible, as this level corresponds to significant liquidity zones. This retracement would remain consistent with the structure of the bull flag, allowing for further accumulation before a breakout. Descending Channel Inside the Bull Flag A smaller descending channel has formed within the bull flag, indicating a continuation of the temporary downtrend. This suggests that further downside is likely in the short term, paving the way for a stronger recovery. The RSI also reflects this descending pattern, reinforcing the possibility of short-term bearish momentum. However, such patterns often precede a bullish breakout once the RSI approaches oversold levels. Loss of Key Moving Averages Bitcoin has lost 3 key moving averages: the 10, 21, and 55 MA, indicating short-term weakness. The next critical support lies at the 89 MA, aligning with the 83K USDT price level. This support will play a vital role in determining whether the bullish structure remains intact. On-Chain Data and Liquidity Levels Based on Hyblock data from the 6-month period (4H time frame), significant liquidation levels are clustered across the price range from 88K to 74K USDT, with over $20-30 billion in liquidations at each price level. These clusters suggest that Bitcoin may need to retrace further to clear the excess liquidity before any sustainable bullish momentum can resume. Clearing these liquidation levels would create a healthier environment for a broader bull run. Conclusion The most likely scenario is a retracement to the 83K-87K USDT range, or even a wick to 77K USDT, followed by consolidation and a potential breakout. Keep an eye on the 89 MA for support and watch for a breakout from the descending RSI channel as confirmation of a trend reversal. This analysis, supported by daily technical patterns and 6-month on-chain data, suggests caution in the short term but highlights opportunities for bullish continuation once the retracement and liquidity clearance are complete.
by gimferati
Specific price range ($93K-$100K)Bitcoin cannot establish a new trend, and maintains a sideways trend. The rise may be the most likely outcome in the end. According to the support and resistance strategy, this $93,000 price area is a support area and has more than one price bounce, According to the support and resistance strategy, this $100,000 price area is a resistance area and has more than one price bounce The appropriate solution if the price breaks through one of the supports or resistances after establishing the sideways channel, Its breakout will be objective, according to the strategy, and we will decide that it is about to start a trend formation phase, 📈📉 Analysis with some probabilities in describing the trend; So: The price may draw new boundaries for it between (support and resistance) from downward and upward — And it will remain in the shadow of respecting the maximum boundaries (of support and resistance) Thus, search for the end of the matter,
Long
by chihaaymen
BTCUSDT: Critical Breakout or Breakdown Levels AheadBullish Perspective: If Bitcoin breaks above the key resistance at $98,085, it may continue its upward movement. A clean breakout and retest of this level could provide a good entry point for long positions, targeting the $103,421 and $108,213 resistance levels. Monitor the RSI for signs of bullish momentum, as a move above 50 could confirm strength. Bearish Perspective: If Bitcoin fails to hold the $93,724 support and breaks below $92,628, it could signal further downside. Short positions may be considered with targets near $88,000 and potentially $81,307. Watch for increased selling volume and RSI dipping below 40 for confirmation of bearish momentum.
by sinaaf
BTC Bitcoin 24hr potterboxBTC Bitcoin 24hr potterbox. Bitcoin is staying inside the parameters of the box. Its on its way back up according to the box. The floor is 94,154.34 ish. Cost basis or the 50 percent line is $100,062.87. If bitcoin reaches the cost basis line it could possibly break thru but there is a lot of volume right around the $97,426.76 mark keeping it down, Consolidating is a term we could use. its getting ready to go to the upside in my opinion over the next couple of weeks to probly a month out. We shall see.
Long
by potrod
BTC Overall: Consolidation still, endingAs indicated last time, price went below the obvious Range. It didn't quite hit my entry level unfortunately. Overall, while BTC seems somewhat in a precarious place by the look at it, I still maintain we are in consolidation phase, and any drop below the consolidation area will be somewhat quick to recover. This is predicated on the assumption we're still in a bull market, which seems likely given all the evidence. It seems a slow and halting move up is the most likely outcome from here, just seeing how downside momentum has stalled, RSI indicators have reset somewhat. I don't think the up move will be immediate. Think it will take more time and be 2 steps forward one back. Market overheated again needs to finish cooling off for the next leg up.
by Ian_Carsen