Bitcoin Testing Resistance with Potential Pullback Ahead

18 Sep

Key observations:

Range Breakout: Earlier, Bitcoin broke out of a consolidation zone (marked box), which triggered the recent upward move.

Resistance Zone: Price is hovering near the 5.15%–5.42% gain zone, where selling pressure has historically emerged.

Pullback Signal: The drawn arrow suggests a possible rejection at this resistance, pointing to a corrective move down toward the 3% zone.

Momentum Check: If BTC fails to hold above this resistance, a retracement is likely. However, a strong breakout could open the door toward 6% gains.

📌 Conclusion:
Bitcoin is at a decision point. Rejection at resistance could bring a pullback toward 2.8%–3.0%, while a breakout above 5.4% would continue the bullish momentum.

19 Sep

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