BITCOIN → False breakout of $ 65,000. What's next ↓ ?

1 Okt 2024

BTCUSD entered a strong buying zone (above 65K), but the bulls failed to realize the potential. The price returned in the channel boundaries, eliminating the positively-minded... A false breakout is forming relative to 65K.



After the liquidation and strong impulse, a small correction is formed, directed to the imbalance zone. The retest may end with the bears holding the defense below 65K, in this case the price may start a gradual decline due to the lack of opportunity to break through 65K (in this case the all-time favorite pattern “Head and Shoulders” may form here). The focus is on the support 62745, below which an ogrom pool of liquidity is formed, if the price enters this zone, the market may spill down.... The global range of 65K - 55K is still relevant. It is not excluded that the resistance can be broken quickly, but for the moment the fight for 65K is still going on... Bears will be able to confirm their victory provided the price consolidates below 62800.

Resistance levels: 65K, 66K
Support levels: 62745, 61320

As the fight for 65K continues, the bulls may make another attempt on the background of the retest. If they will be able to consolidate above the 65-66K zone, the price will head to the global resistance - 68-69K, where a more serious, fierce struggle will develop...

Rate, share your opinion and questions, let's discuss what's going on with ★ BTCUSDT ;)

Regards R. Linda!

1 Okt 2024

Dagangan ditutup: sasaran tercapai

Target 1 (61320) reached!