BITCOIN → From consolidation to distribution. Market weakness
BTCUSDT.P is moving from consolidation to a correction phase. The price broke through the support zone of 114.5–115.5, closing within the Friday trading session in the sell zone...
Previous idea from July 22: BITCOIN → Consolidation and compression to 116K. Correction?
The fundamental background is shifting to neutral, the hype has temporarily ended, and there are no bullish drivers yet. And for the health of the market, a correction is needed. Bitcoin is breaking the neutral consolidation structure. The previous trading session closed below the support range, which generally indicates market weakness. Despite the global bullish trend, Bitcoin is moving from consolidation to a correction phase, with 112K - 110.5K serving as points of interest in this case. Before the fall, liquidity may be captured in the 114K - 114.800 zone.
Resistance levels: 114.05, 114.85, 115.67
Support levels: 112.03, 110.48
After a strong movement, the market may enter a correction or local consolidation, during which it may test the specified resistance zones before continuing its downward movement to the zone of interest and liquidity at 112 - 110.5.
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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.