BTC/USD is consolidating just above a major supply zone ($82,731 - $83,500), showing strength after a bullish breakout earlier this week.
Key Levels to Watch:
Resistance Zone (Supply): $82,731 - $83,500
Price is currently testing this zone. A clean break and hold above it could trigger a sharp upside continuation.
Immediate Demand Zone: $79,709
This level previously acted as strong resistance and now flipped into support. If price pulls back, I’ll be watching for bullish price action around this zone.
Major Demand Zone: $75,701 - $76,811
If price dives lower, this zone is likely to see heavy accumulation based on past reactions and volume profile support.
Why It Matters:
Price is respecting key supply and demand zones generated by the LuxAlgo Visible Range tool.
Bitcoin has formed a strong impulse leg upwards, followed by a potential bullish flag formation at resistance — a classic sign of continuation.
Multiple rejections from demand zones show strong buying pressure on dips.
Trade Idea:
Bullish Bias: As long as BTC holds above $82,731, I’m expecting continuation towards new highs.
Entry Zones: Watching for long opportunities on bullish confirmations at either $79,709 or $75,701 (marked by green arrows).
Invalidation: Clean break below $75,701 could flip the bias short.
Like this setup?
Smash that boost, drop your thoughts in the comments, and don’t forget to follow for more institutional-grade supply & demand analysis!
#Bitcoin #BTCUSD #CryptoTrading #SupplyAndDemand #LuxAlgo #PriceAction #CryptoAnalysis #TradingView
Key Levels to Watch:
Resistance Zone (Supply): $82,731 - $83,500
Price is currently testing this zone. A clean break and hold above it could trigger a sharp upside continuation.
Immediate Demand Zone: $79,709
This level previously acted as strong resistance and now flipped into support. If price pulls back, I’ll be watching for bullish price action around this zone.
Major Demand Zone: $75,701 - $76,811
If price dives lower, this zone is likely to see heavy accumulation based on past reactions and volume profile support.
Why It Matters:
Price is respecting key supply and demand zones generated by the LuxAlgo Visible Range tool.
Bitcoin has formed a strong impulse leg upwards, followed by a potential bullish flag formation at resistance — a classic sign of continuation.
Multiple rejections from demand zones show strong buying pressure on dips.
Trade Idea:
Bullish Bias: As long as BTC holds above $82,731, I’m expecting continuation towards new highs.
Entry Zones: Watching for long opportunities on bullish confirmations at either $79,709 or $75,701 (marked by green arrows).
Invalidation: Clean break below $75,701 could flip the bias short.
Like this setup?
Smash that boost, drop your thoughts in the comments, and don’t forget to follow for more institutional-grade supply & demand analysis!
#Bitcoin #BTCUSD #CryptoTrading #SupplyAndDemand #LuxAlgo #PriceAction #CryptoAnalysis #TradingView
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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.