BITCOIN → Testing $88K - $90K. False or true breakdown?

25 Feb

BTCUSD enters the risk zone and forms a false breakdown of the key support zone. All eyes are on the bulls, whether they can keep their defense on the market or not....

On D1 - W1 price in global consolidation after strong growth. The focus is on 90-91K, a zone that is a strong support for the global trend. A false breakout is forming at the moment.
On the Local timeframe H1 - H4 the price is testing the local channel support, as well as the risk zone 89400.
If the bulls can keep the defense above 89400 - 90K, bitcoin may strengthen. The primary target in this case could be 94K

Support levels: 91280, 89400
Resistance levels: 94800, 99200

Statistically, the strongest dvjeniyas are formed after a false breakdown. But there is another question here, what kind of breakout will be - true or false.
In our case, we need to wait for confirmation, namely, for the price to consolidate above the key zones and levels. Emphasis on 89400, 90000, 91300

Regards R. Linda!

25 Feb

Dagangan aktif

Bitcoin feels unimportant and buyers can't do anything about it yet.
I don't see the point in guessing about the future. Watch the chart

Right now the focus is on 89500
If bitcoin draws a reversal pattern relative to this zone, it may have a chance to rise.
If the price keeps falling down and updating the lows, then most likely the price may head towards 80-75K.