The chart reveals a classic distribution pattern in the Bitcoin market, marked by a significant peak followed by a consolidation phase. Distribution occurs after a strong uptrend, and as the price stalls and starts to move lower, it signals a potential reversal.
Our target is set at the 50% retracement level of the upmove, located around $78,682. This level represents a key support area and is a typical target for a corrective pullback after a distribution phase.
Price has shown weakness at the recent highs, and as we move forward, we anticipate further downside toward this target zone which would offer a nice buying opportunity in discount for further upside.
Our target is set at the 50% retracement level of the upmove, located around $78,682. This level represents a key support area and is a typical target for a corrective pullback after a distribution phase.
Price has shown weakness at the recent highs, and as we move forward, we anticipate further downside toward this target zone which would offer a nice buying opportunity in discount for further upside.
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💎💎- Professional Trader
💎💎 - Discord: discord.gg/gHKNVMyEvd
💎💎 - Trading Course: liquiditysweep369.carrd.co/
💎💎 - Discord: discord.gg/gHKNVMyEvd
💎💎 - Trading Course: liquiditysweep369.carrd.co/
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.