Bitcoin is currently trading at its rising trendline support, which has been a key level for price action. On the 5D timeframe, BTC is respecting this strong upward trendline, indicating that buyers are stepping in to defend it. The previous resistance has now turned into support, adding confluence to this critical level. If BTC holds here, it could signal a bullish continuation, while a breakdown may trigger further downside.
On the 1D timeframe, BTC is filling the Fair Value Gap (FVG), a liquidity zone where price typically seeks balance before making the next move. The Stoch RSI is in the oversold region, suggesting that a bounce could be on the horizon if demand picks up.
Bullish Scenario: Holding above the trendline and reclaiming $81,500+ could trigger another leg up.
Bearish Scenario: Losing the trendline support and breaking below $76,000 could lead to deeper correction.
Key Levels to Watch:
✅ Bounce from $76,000-$78,000 → Potential bullish reversal
⚠️ Break below $76,000 → Risk of further downside
On the 1D timeframe, BTC is filling the Fair Value Gap (FVG), a liquidity zone where price typically seeks balance before making the next move. The Stoch RSI is in the oversold region, suggesting that a bounce could be on the horizon if demand picks up.
Bullish Scenario: Holding above the trendline and reclaiming $81,500+ could trigger another leg up.
Bearish Scenario: Losing the trendline support and breaking below $76,000 could lead to deeper correction.
Key Levels to Watch:
✅ Bounce from $76,000-$78,000 → Potential bullish reversal
⚠️ Break below $76,000 → Risk of further downside
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.