Bitcoin is currently trading within a descending channel after recent structure breaks and multiple ChoCH (Change of Character) formations. Price is hovering near the 111,000 support area while testing the upper trendline of the channel.
🔎 Key points:
Price rejected from the resistance area (124,000) and moved into a bearish descending channel.
Strong demand/supply zones are visible around 108,000 – 110,000 (support/supply zone).
A breakout above the descending channel could trigger a bullish move toward the 115,000 – 118,000 demand zone.
If rejection occurs again, downside continuation toward the 106,000 support level remains possible.
This chart is for educational purposes only, not financial advice. Please manage your risk before trading
🔎 Key points:
Price rejected from the resistance area (124,000) and moved into a bearish descending channel.
Strong demand/supply zones are visible around 108,000 – 110,000 (support/supply zone).
A breakout above the descending channel could trigger a bullish move toward the 115,000 – 118,000 demand zone.
If rejection occurs again, downside continuation toward the 106,000 support level remains possible.
This chart is for educational purposes only, not financial advice. Please manage your risk before trading
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$ FOREX / GOLD / BTC | Real Trades,Real Result | Risk-managed strategiesn &VIP Signal {My Personal Entries} Join Telegram _ Trade smater ||
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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.