💎 BTC PLAN UPDATE
1. Key Chart Features:
Currently, the BTC/USD price is at $118,893.
The chart shows a strong upward trend recently, and we are seeing accumulation with short-term corrections.
2. Fibonacci Levels:
The Fibonacci retracement levels are drawn from the lowest point ($114,460) to the highest point ($119,809).
At the moment, the price is hovering near the 0.5 retracement level ($113,000), which is a key support level.
If the price holds above this level, a rebound is likely.
3. Trendlines and Price Patterns:
The trendlines (dashed blue lines) are indicating a descending triangle pattern, which could lead to a breakout if the price surpasses resistance levels.
A potential Head and Shoulders pattern might be forming, though it is not yet clear and needs confirmation by breaking key resistance.
4. Breakout and Retest Zone:
The breakout zone (red area) is around $119,000.
If the price breaks and holds above this level, we may see a continuation of the uptrend toward the next target around $122,792 (Fibonacci 1.618 level).
After the breakout, the price might retouch (retest) this support area before resuming the upward movement.
5. Technical Indicators:
• Moving Averages (MA):
• The red MA (long-term) is below the current price, indicating a strong uptrend.
• The yellow MA (medium-term) is near the current price, providing support for the uptrend if it holds.
• RSI Indicator:
The RSI has not yet reached overbought levels, suggesting that the market still has potential to rise without being overheated.
6. Conclusion:
If the price breaks above the $119,000 resistance and maintains that level, BTC/USD could continue its strong bullish trend, potentially targeting $122,792 or even $127,941.
Note: If the price fails to hold above $119,000 and drops back below, a pullback to the nearest support level at $114,460 may occur.
1. Key Chart Features:
Currently, the BTC/USD price is at $118,893.
The chart shows a strong upward trend recently, and we are seeing accumulation with short-term corrections.
2. Fibonacci Levels:
The Fibonacci retracement levels are drawn from the lowest point ($114,460) to the highest point ($119,809).
At the moment, the price is hovering near the 0.5 retracement level ($113,000), which is a key support level.
If the price holds above this level, a rebound is likely.
3. Trendlines and Price Patterns:
The trendlines (dashed blue lines) are indicating a descending triangle pattern, which could lead to a breakout if the price surpasses resistance levels.
A potential Head and Shoulders pattern might be forming, though it is not yet clear and needs confirmation by breaking key resistance.
4. Breakout and Retest Zone:
The breakout zone (red area) is around $119,000.
If the price breaks and holds above this level, we may see a continuation of the uptrend toward the next target around $122,792 (Fibonacci 1.618 level).
After the breakout, the price might retouch (retest) this support area before resuming the upward movement.
5. Technical Indicators:
• Moving Averages (MA):
• The red MA (long-term) is below the current price, indicating a strong uptrend.
• The yellow MA (medium-term) is near the current price, providing support for the uptrend if it holds.
• RSI Indicator:
The RSI has not yet reached overbought levels, suggesting that the market still has potential to rise without being overheated.
6. Conclusion:
If the price breaks above the $119,000 resistance and maintains that level, BTC/USD could continue its strong bullish trend, potentially targeting $122,792 or even $127,941.
Note: If the price fails to hold above $119,000 and drops back below, a pullback to the nearest support level at $114,460 may occur.
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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.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.