Hi guys!
Did you see my last analysis about Btc? Let's break it down more!
Bitcoin is now testing a major resistance zone around $106.8K, where a descending trendline has already pushed the price down several times.
This area could act as a reversal point again. If BTC fails to break above, we might see a move down toward $102.2K — a strong support level from earlier this month.
Right now, the market is showing signs of weakness near resistance, so this could be a good spot to watch for a short setup — unless bulls step in with strong volume and break out cleanly.
attention to these levels:
Did you see my last analysis about Btc? Let's break it down more!
Bitcoin is now testing a major resistance zone around $106.8K, where a descending trendline has already pushed the price down several times.
This area could act as a reversal point again. If BTC fails to break above, we might see a move down toward $102.2K — a strong support level from earlier this month.
Right now, the market is showing signs of weakness near resistance, so this could be a good spot to watch for a short setup — unless bulls step in with strong volume and break out cleanly.
attention to these levels:
- Resistance: $106.8K (trendline + supply zone)
- Support target: $102.2K
- Outlook: Bearish unless breakout confirmed
Trade closed: stop reached
However, the reaction to the blue area could happen,n but the breakout was strong!Note
After the breakout, it was the analysis that hit the target!
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.
👉 My recommended broker: bit.ly/HYMCMELI
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
____
Telegram: t.me/melikatrader94
Forex: t.me/melikatrader94GoldForex
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.