HelenP. I Bitcoin can drop from resistance level

kelmarin

Hi folks today I'm prepared for you Bitcoin analytics. If we examine the chart, we can see that the price has approached a significant resistance zone between 108200 and 108800. This area previously acted as a ceiling for the price, and now coincides with the retest of the broken trend line from above. After a strong bullish push from the support zone near 103000, the price is currently consolidating just below resistance, which often signals hesitation and potential reversal pressure. Earlier, we observed a period of consolidation around the support zone, followed by a breakout that broke above the trend line. However, the current structure suggests that the breakout may have been temporary. With multiple signs of slowing momentum and price failing to break convincingly through the resistance, a bearish move from this level becomes increasingly likely. Given the context, I expect BTCUSD to reject this resistance and move downward toward the 103000 support level again. That is my current goal, as I anticipate the price to complete a corrective wave in line with the overall structure. If you like my analytics you may support me with your like/comment ❤️

Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.

semalam

Dagangan aktif

Good! BTC started to decline, this great! I exepct it may continue to fall next.