Market Overview:
Bitcoin is trading near 111,250 after breaking out of a descending structure and forming a bullish channel. The price has firmly established itself above the daily level of 110,600, signaling continued bullish momentum. The market is now aiming toward the channel’s upper boundary.
Technical Signals & Formations:
— Completed ABCD pattern
— EMA supports the bullish bias
— 110,600 now acts as key support
— Upside potential toward 113,388
Key Levels:
Support: 110,600, 109,115
Resistance: 112,000, 113,388
Scenario:
Primary: As long as BTC holds above 110,600, a move toward 112,000 and 113,388 remains likely.
Alternative: A drop below 110,600 may trigger a pullback toward 109,115.
Bitcoin is trading near 111,250 after breaking out of a descending structure and forming a bullish channel. The price has firmly established itself above the daily level of 110,600, signaling continued bullish momentum. The market is now aiming toward the channel’s upper boundary.
Technical Signals & Formations:
— Completed ABCD pattern
— EMA supports the bullish bias
— 110,600 now acts as key support
— Upside potential toward 113,388
Key Levels:
Support: 110,600, 109,115
Resistance: 112,000, 113,388
Scenario:
Primary: As long as BTC holds above 110,600, a move toward 112,000 and 113,388 remains likely.
Alternative: A drop below 110,600 may trigger a pullback toward 109,115.
Trade closed: target reached
Bitcoin deal closed at take profit.
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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.
Stop losing money on random trades. Get ready-to-use signals with entry, stop-loss, and targets. Over +1100% profit. 1 month free. Simple. Clear. Profitable.
Join now: t.me/+ve3cSINHpoowNDIy
Join now: t.me/+ve3cSINHpoowNDIy
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.