Bitcoin daily chart shows rejection at SMA with supports near 99
On the daily timeframe, Bitcoin is showing a clear rejection from the Bollinger Band 20 SMA. This zone is acting as resistance, aligning with the market’s failure to sustain the previous lower high. At the same time, the structure has been printing a series of higher lows, keeping the bullish bias alive for now.
For momentum to shift strongly upward, BTC would need to break above $130,500, which would confirm a new higher high. However, if this does not happen and today’s daily candle closes red, it would signal the formation of another higher low without confirmation of an uptrend. This setup leans toward a bearish outlook in the short term.
Key supports to watch lie between the $99,000 and $96,000 zones, where a temporary bounce could occur. A sustained move below these levels could open the path for deeper downside continuation.
Targets: Short-term focus remains on the $99,000 area as a key support and possible bounce zone.
For momentum to shift strongly upward, BTC would need to break above $130,500, which would confirm a new higher high. However, if this does not happen and today’s daily candle closes red, it would signal the formation of another higher low without confirmation of an uptrend. This setup leans toward a bearish outlook in the short term.
Key supports to watch lie between the $99,000 and $96,000 zones, where a temporary bounce could occur. A sustained move below these levels could open the path for deeper downside continuation.
Targets: Short-term focus remains on the $99,000 area as a key support and possible bounce zone.
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FOLLOW MY TELEGRAM CHANNEL FOR FREE : bit.ly/3JfrpgV
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.