On the daily timeframe Bitcoin remains in its broader bullish phase with the recent price action closely resembling previous market cycles.
Based on the current structure price is expected to face resistance around $135,800 which could trigger a mid term correction back toward the $118,000–$115,000 zone.
If this support holds and buying pressure continues, the next major target lies in the $161,000 area.
This scenario remains valid as long as price stays above the previous swing low near $107,000.
Support levels: $118,000 – $115,000
Resistance levels: $135,800 – $161,000
Based on the current structure price is expected to face resistance around $135,800 which could trigger a mid term correction back toward the $118,000–$115,000 zone.
If this support holds and buying pressure continues, the next major target lies in the $161,000 area.
This scenario remains valid as long as price stays above the previous swing low near $107,000.
Support levels: $118,000 – $115,000
Resistance levels: $135,800 – $161,000
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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.
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.