Bitcoin (BTCUSD) – Bearish Trend Continues
Referring to the previous analysis, BTCUSD remains in a dominant bearish trend, currently testing a critical support zone at the lower boundary of the double channel pattern.
If the 86K level holds as a support, a potential short-term bullish retracement towards the upper boundary of the double channel at 96.8K may occur. However, failure to sustain above 86K could trigger further downside pressure, with the next key support levels positioned at the Fibonacci retracement level of 74.6K.
In a worst-case scenario, a deeper breakdown could drive BTCUSD towards the major support at
52K, a historically significant demand zone within the long-term market structure.
Traders and investors should closely monitor price action and volume dynamics around these critical levels to anticipate the next potential move.
Previous analysis
If the 86K level holds as a support, a potential short-term bullish retracement towards the upper boundary of the double channel at 96.8K may occur. However, failure to sustain above 86K could trigger further downside pressure, with the next key support levels positioned at the Fibonacci retracement level of 74.6K.
In a worst-case scenario, a deeper breakdown could drive BTCUSD towards the major support at
52K, a historically significant demand zone within the long-term market structure.Traders and investors should closely monitor price action and volume dynamics around these critical levels to anticipate the next potential move.
Previous analysis
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.