Bitcoin/USD 1H Chart Overview:
Price Action: Bitcoin is trading within an ascending channel after rebounding from the support zone near $112,400.
Resistance: Price recently rejected from the upper channel boundary and horizontal resistance around $117,600–$118,000.
Support Levels:
Immediate support near the 50% retracement level (~$116,000).
Major support around $115,000 (confluence of previous structure + 50% FIB zone marked “support 50% FIB”).
Reversal Zone: Highlighted around $115,600, suggesting potential bounce if tested again.
Trend Context: Currently a pullback within a broader short-term uptrend, but further rejection at resistance could lead to a deeper retracement.
thanking you
Price Action: Bitcoin is trading within an ascending channel after rebounding from the support zone near $112,400.
Resistance: Price recently rejected from the upper channel boundary and horizontal resistance around $117,600–$118,000.
Support Levels:
Immediate support near the 50% retracement level (~$116,000).
Major support around $115,000 (confluence of previous structure + 50% FIB zone marked “support 50% FIB”).
Reversal Zone: Highlighted around $115,600, suggesting potential bounce if tested again.
Trend Context: Currently a pullback within a broader short-term uptrend, but further rejection at resistance could lead to a deeper retracement.
thanking you
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.
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.