BTC has shown some short-term bullish signs, with a corrective bounce from the demand zone around 116,000–115,000, indicating a temporary reaction from buyers. However, this move appears to be a retracement rather than a full reversal, as the overall structure remains bearish.
Price is currently pushing into a previously broken intraday supply zone and approaching the 50% equilibrium level near 119,000, which aligns with a potential lower high forming. As long as BTC stays below this key level and fails to break market structure to the upside, the bias remains bearish.
We still believe BTC is likely to come back down to retest the recent lows, possibly revisiting the 116,000 zone to sweep more liquidity before any meaningful reversal can occur.
As always, proper risk management is essential. Wait for confirmation before entering trades and protect your capital in these volatile conditions.
Price is currently pushing into a previously broken intraday supply zone and approaching the 50% equilibrium level near 119,000, which aligns with a potential lower high forming. As long as BTC stays below this key level and fails to break market structure to the upside, the bias remains bearish.
We still believe BTC is likely to come back down to retest the recent lows, possibly revisiting the 116,000 zone to sweep more liquidity before any meaningful reversal can occur.
As always, proper risk management is essential. Wait for confirmation before entering trades and protect your capital in these volatile conditions.
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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.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.