🔹 Asset: Bitcoin (BTC/USDT Perpetual Futures)
🔹 Timeframe: 30M (30-Minutes)
🔹 Exchange: MEXC
📊 Market Overview:
BTC remains in a strong downtrend, respecting a descending trendline. Recent price action suggests a potential short-term reversal or pullback, contingent on bullish confirmation at the marked reversal area.
📉 Key Technical Insights:
✅ Lower Highs & Trendline Resistance: BTC is struggling to break above a key diagonal resistance, reinforcing the bearish structure.
✅ Reversal Area: A key demand zone has been identified around $83,500 - $83,000, where buyers may step in.
✅ Candle Confirmation Needed: A bullish engulfing or hammer candlestick formation in the reversal area could signal a pullback towards $84,500 - $85,000.
📌 Potential Trade Scenarios:
🔻 Bearish Continuation: If BTC fails to hold the reversal area, further downside towards $82,500 or lower is likely.
🔺 Short-term Bullish Reversal: A confirmed bullish candlestick formation could push BTC back to $85,000, where sellers might re-enter.
📢 Final Thoughts:
BTC is in a downtrend, but a temporary relief rally is possible if strong bullish confirmation appears at the support zone. Traders should wait for price action signals before entering.
🔔 Stay alert and manage risk wisely! 🚀
🔹 Timeframe: 30M (30-Minutes)
🔹 Exchange: MEXC
📊 Market Overview:
BTC remains in a strong downtrend, respecting a descending trendline. Recent price action suggests a potential short-term reversal or pullback, contingent on bullish confirmation at the marked reversal area.
📉 Key Technical Insights:
✅ Lower Highs & Trendline Resistance: BTC is struggling to break above a key diagonal resistance, reinforcing the bearish structure.
✅ Reversal Area: A key demand zone has been identified around $83,500 - $83,000, where buyers may step in.
✅ Candle Confirmation Needed: A bullish engulfing or hammer candlestick formation in the reversal area could signal a pullback towards $84,500 - $85,000.
📌 Potential Trade Scenarios:
🔻 Bearish Continuation: If BTC fails to hold the reversal area, further downside towards $82,500 or lower is likely.
🔺 Short-term Bullish Reversal: A confirmed bullish candlestick formation could push BTC back to $85,000, where sellers might re-enter.
📢 Final Thoughts:
BTC is in a downtrend, but a temporary relief rally is possible if strong bullish confirmation appears at the support zone. Traders should wait for price action signals before entering.
🔔 Stay alert and manage risk wisely! 🚀
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.
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.