📊#BTC hits neckline resistance and pulls back✔️
🧠From a structural perspective, we've retreated after hitting resistance at the neckline, as expected. If the current structure continues to decline rapidly, we could potentially retest support near 112,000, or perhaps break below the previous low to sweep liquidity before rebounding.
➡️The resistance zone remains clear. Only if the neckline resistance zone is broken and stabilizes for a day or so can we maintain a positive bullish stance.
Let's see 👀
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BTCUSDT.P
🧠From a structural perspective, we've retreated after hitting resistance at the neckline, as expected. If the current structure continues to decline rapidly, we could potentially retest support near 112,000, or perhaps break below the previous low to sweep liquidity before rebounding.
➡️The resistance zone remains clear. Only if the neckline resistance zone is broken and stabilizes for a day or so can we maintain a positive bullish stance.
Let's see 👀
🤜If you like my analysis, please like 💖 and share 💬
BTCUSDT.P Order cancelled
#BTC Update
Yesterday, we failed to follow the initial decline and instead rebounded from the yellow support zone. Therefore, the structure has changed, and we have canceled our long position near 112,000.
To enter a new long trade, we can only look for lower support, such as around 109,000, provided the 1-hour neckline level is not broken. A break above this level would indicate a potential challenge to the bearish support level (119,811).
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🔥🔥Use the invitation link to register and trade, and you can join the spot VIP club for free.🔥🔥
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
🔥20% transaction fee discoun🔥
👇Referral code👇
👇BITGET 👇
partner.niftah.cn/bg/wolfking20
👇BYBIT 👇
partner.bybit.com/b/wolfking
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.