Hey traders! 🧠
Today’s BTC/USD price action is sending a strong technical signal – price has broken down from the ascending channel, potentially marking the start of a deeper correction. Currently sitting at $106,200, with a daily drop of -1.49%.
🔍 Here’s what I’m seeing:
📉 Uptrend break – bears might be taking control.
🛑 Immediate support: $104,000.
🔼 Resistance ahead: $109,351 – reclaiming this is key for any bullish recovery.
📊 Watching closely whether BTC re-enters the channel or moves toward lower support (~$100K or below).
💡 My current plan:
If $104K holds, we could see a bounce. If not, prepare for a potential deeper dip. A return above $109K would be a bullish sign and could trigger renewed momentum.
📲 Follow me for more real-time updates, trade ideas, and clean technical breakdowns!
👉 If this helped, drop a like – it helps get this analysis in front of more traders!
#Bitcoin #BTCUSD #Crypto #TradingView #TechnicalAnalysis #CryptoTrading
Today’s BTC/USD price action is sending a strong technical signal – price has broken down from the ascending channel, potentially marking the start of a deeper correction. Currently sitting at $106,200, with a daily drop of -1.49%.
🔍 Here’s what I’m seeing:
📉 Uptrend break – bears might be taking control.
🛑 Immediate support: $104,000.
🔼 Resistance ahead: $109,351 – reclaiming this is key for any bullish recovery.
📊 Watching closely whether BTC re-enters the channel or moves toward lower support (~$100K or below).
💡 My current plan:
If $104K holds, we could see a bounce. If not, prepare for a potential deeper dip. A return above $109K would be a bullish sign and could trigger renewed momentum.
📲 Follow me for more real-time updates, trade ideas, and clean technical breakdowns!
👉 If this helped, drop a like – it helps get this analysis in front of more traders!
#Bitcoin #BTCUSD #Crypto #TradingView #TechnicalAnalysis #CryptoTrading
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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.
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.