If You Missed the Last Rally, This Might Be Your Shot
Bitcoin has broken below the 90K support level, turning it into a new resistance, marking a significant shift in market structure. Despite this, the EMA Ribbon remains bullish, signaling that the long-term trend is still intact. The Signal Builder has previously generated buy signals, reinforcing the idea that this could be a temporary retracement rather than a complete trend reversal.
Looking at historical price action, a similar pattern occurred when Bitcoin retested a breakout zone before resuming its upward movement. If history repeats itself, we could see the price revisiting the previous breakout area between 74K and 65K. This zone aligns with the long-term ascending channel that has been respected since November 2022, adding further confluence to this potential support area.
A strong reaction from this zone could provide a high-probability setup for a move back to the previous all-time high at 109K, and if bullish momentum continues, the Fibonacci extension suggests a potential target at 150K. For confirmation, traders should watch for structural shifts in price action, particularly a reclaim of key levels or a decisive breakout from resistance.
This level presents an opportunity for strategic positioning. Are we about to see a repeat of the previous cycle? Let’s monitor how Bitcoin reacts to this critical zone.
👨🏻💻💭 What’s your take on this setup? Do you see Bitcoin holding above support, or are we in for a deeper correction? Drop your thoughts in the comments.
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