Chart Overview:
Current Price: $107,895
Target: $110,000 (marked on chart)
Indicators Used: Supertrend (10, 3)
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Key Observations:
1. Supertrend Flip Signals:
The Supertrend indicator recently flipped bullish, suggesting potential upward momentum.
This flip happened after a minor correction, implying buyers are regaining control.
2. Trend Structure:
Prior to the recent dip, Bitcoin formed higher highs and higher lows, indicating an overall uptrend.
The highlighted yellow ascending channel confirms this bullish structure, although price temporarily broke below it.
3. Support Zone:
Bitcoin found strong support near the $107,000–$107,500 range, bouncing back swiftly.
This aligns with the lower boundary of the recent consolidation zone (blue lines).
4. Immediate Resistance:
Resistance is clearly identified at around $109,600–$109,800, the previous high zone.
A clean break above this zone would open the path toward $110,000 and possibly beyond.
5. Bullish Scenario:
If momentum sustains and volume increases, Bitcoin is likely to test and potentially break the $110K psychological level, especially as the Supertrend remains green.
Current Price: $107,895
Target: $110,000 (marked on chart)
Indicators Used: Supertrend (10, 3)
---
Key Observations:
1. Supertrend Flip Signals:
The Supertrend indicator recently flipped bullish, suggesting potential upward momentum.
This flip happened after a minor correction, implying buyers are regaining control.
2. Trend Structure:
Prior to the recent dip, Bitcoin formed higher highs and higher lows, indicating an overall uptrend.
The highlighted yellow ascending channel confirms this bullish structure, although price temporarily broke below it.
3. Support Zone:
Bitcoin found strong support near the $107,000–$107,500 range, bouncing back swiftly.
This aligns with the lower boundary of the recent consolidation zone (blue lines).
4. Immediate Resistance:
Resistance is clearly identified at around $109,600–$109,800, the previous high zone.
A clean break above this zone would open the path toward $110,000 and possibly beyond.
5. Bullish Scenario:
If momentum sustains and volume increases, Bitcoin is likely to test and potentially break the $110K psychological level, especially as the Supertrend remains green.
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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.
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.