Bitcoin is currently experiencing a healthy pullback after an impressive run, testing the neckline of the Inverse Head & Shoulders breakout on the 1D timeframe.
🔹 Current Market View:
BTC is retesting the neckline of the IHS pattern, which now acts as a strong support zone.
Price is holding near $113K–$115K, which is crucial for maintaining bullish momentum.
This dip is a healthy correction, flushing out over-leveraged positions and preparing for the next leg up.
🔹 Key Levels:
Support Zone: $113,000 – $115,000
Immediate Resistance: $120,000 – $122,500
Breakout Target: $165,000+ on the next bullish wave
🔹 Market Sentiment:
Holding above the neckline keeps the bullish structure intact.
If the support holds, we can expect continuation to new highs once buying pressure returns.
A daily close below $112K would signal caution and delay the next rally.
💡 Tip: Don’t panic on these red candles. Healthy corrections are part of a sustainable uptrend.
🔹 Current Market View:
BTC is retesting the neckline of the IHS pattern, which now acts as a strong support zone.
Price is holding near $113K–$115K, which is crucial for maintaining bullish momentum.
This dip is a healthy correction, flushing out over-leveraged positions and preparing for the next leg up.
🔹 Key Levels:
Support Zone: $113,000 – $115,000
Immediate Resistance: $120,000 – $122,500
Breakout Target: $165,000+ on the next bullish wave
🔹 Market Sentiment:
Holding above the neckline keeps the bullish structure intact.
If the support holds, we can expect continuation to new highs once buying pressure returns.
A daily close below $112K would signal caution and delay the next rally.
💡 Tip: Don’t panic on these red candles. Healthy corrections are part of a sustainable uptrend.
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.
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.