After reaching my 75K target, Bitcoin started to recover nicely. In its comeback, it delivered two important bullish confirmations:
➔ First, it broke above the descending trendline around 84K.
➔ Then, it made a small consolidation, followed by a new leg up that pushed the price above the critical 92K technical zone — also reclaiming the psychological 90K mark.
At the time of writing, the price holds well above horizontal support. From a technical perspective, as long as the 90-91K area remains intact, we can expect higher prices. The next big resistance is around 100K, and if support holds, we might see Bitcoin testing that zone again in the coming days.
Speculators could look to buy dips as long as the structure stays healthy.
My take:
Even though the setup looks technically decent, I'm personally staying out for now. Once again, the crowd is shouting that "the correction is over" and "it's time to buy" — a classic red flag in market psychology.
➔ First, it broke above the descending trendline around 84K.
➔ Then, it made a small consolidation, followed by a new leg up that pushed the price above the critical 92K technical zone — also reclaiming the psychological 90K mark.
At the time of writing, the price holds well above horizontal support. From a technical perspective, as long as the 90-91K area remains intact, we can expect higher prices. The next big resistance is around 100K, and if support holds, we might see Bitcoin testing that zone again in the coming days.
Speculators could look to buy dips as long as the structure stays healthy.
My take:
Even though the setup looks technically decent, I'm personally staying out for now. Once again, the crowd is shouting that "the correction is over" and "it's time to buy" — a classic red flag in market psychology.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.