BTC just pulled back from the mid-range rejection and is now retesting a key support cluster. The reaction here decides the next leg.
Price is sitting right on top of a major confluence zone: previous structure support, the lower trend line, and a high-volume node that has acted as a pivot multiple times. Lose this area and the “hard stop invalidation” region comes into play, which would likely trigger a deeper move toward the lower range.
Momentum indicators on the 6H are rolling over after failing to reclaim the upper band. Bulls need a higher low and a quick reclaim of the mid-range to keep momentum in their favour. Failure to do so opens the door for a broader corrective structure.
For now, the chart is simple: defend the floor or risk a larger breakdown. Reclaim resistance and the bullish continuation pattern remains intact.
What’s your read on BTC here?
Price is sitting right on top of a major confluence zone: previous structure support, the lower trend line, and a high-volume node that has acted as a pivot multiple times. Lose this area and the “hard stop invalidation” region comes into play, which would likely trigger a deeper move toward the lower range.
Momentum indicators on the 6H are rolling over after failing to reclaim the upper band. Bulls need a higher low and a quick reclaim of the mid-range to keep momentum in their favour. Failure to do so opens the door for a broader corrective structure.
For now, the chart is simple: defend the floor or risk a larger breakdown. Reclaim resistance and the bullish continuation pattern remains intact.
What’s your read on BTC here?
Check me out linktr.ee/btdcrypto
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Check me out linktr.ee/btdcrypto
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.