Major Correction in Bitcoin: Is Next Bull Run Around the Corner?

25 Jul

Yello, Paradisers! Is #BTCUSDT on the verge of a major breakout, or are we headed for a deeper correction?

💎After testing the lower descending supports, #Bitcoin had a massive upside run, hitting strong horizontal resistances between $67,300 and $68,200. This rally has now paused, and the price has entered a corrective phase.

💎Since this morning, selling pressure has dominated, but Bitcoin found support in the $63,400 to $62,950 region, reinforced by both horizontal and EMA-based supports. This support level is witnessing strong short-covering. If Bitcoin can maintain this support over the next few hours, a rebound towards $65,300 and $66,800 is likely, potentially challenging strong resistances ahead.

💎However, if this support fails, we could see a drop towards the Fibonacci and strong horizontal supports between $60,000 and $58,000. A decline to these levels would also fill the CME gap.

💎If Bitcoin can maintain its minor support region over the next few hours, price could see a rebound targeting $65,300 to $66,800. Overcoming these levels is crucial for Bitcoin to challenge its key descending resistances. Breaking through this pivotal descending resistance at $69,800 to $70,250 could trigger a significant bull run.

Stay sharp, Paradisers, and monitor these key levels closely. Discipline and patience are essential for navigating these volatile times.


MyCryptoParadise
iFeel the success🌴

29 Jul

Nota

Boom! #BTCUSDT is doing just what we said. Up 10.30% and looking good!

Price has broken the strong resistance levels and is currently challenging both the ascending trendline resistance and the descending resistance at a time.

Importantly the descending resistance is a a major pivotal level now. Any rejections here would lead to some very strong profit-takings. On the other hand a bullish breakout above this descending resistance would put bulls in a hyper-bullish phase with aiming for 72,000 next followed by 73,900.

30 Jul

Nota

#Bitcoin couldn't succeed in surpassing the ascending and descending trendline resistances, which has eventually triggered very strong profit-takings.

In addition the strong resistance levels still stay relevant and are an additionally key level.

#BTC gets hyper bullish by breaking out of the descending resistance at $70,400.