Bitcoin is currently trading around $114,500 price level and continues to be held below the $116,000 level.
Price remains in a short-term range between $112,000 and $116,000. But signs are emerging that a breakout may be brewing.
Ichimoku Cloud
BTC is trading into a bearish cloud, which further highlights the possibility of continuation within the range.
RSI
RSI is turning lower from the 60 level, away from the overbought region. This could indicate some downside to come (back into the range).
The Anticipation
Look for a possible break to the downside (below the support level of $112,000 and the 50% retracement level).
Eventually, we could see BTC retest the 108,000 support level before a strong rebound, with possibly a new ATH created.
Price remains in a short-term range between $112,000 and $116,000. But signs are emerging that a breakout may be brewing.
Ichimoku Cloud
BTC is trading into a bearish cloud, which further highlights the possibility of continuation within the range.
RSI
RSI is turning lower from the 60 level, away from the overbought region. This could indicate some downside to come (back into the range).
The Anticipation
Look for a possible break to the downside (below the support level of $112,000 and the 50% retracement level).
Eventually, we could see BTC retest the 108,000 support level before a strong rebound, with possibly a new ATH created.
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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.
Join my mailing list jindaotai.com/joinme
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.