Bitcoin Nears Key Resistance in Rising Channel
Bitcoin (BTC/USDT) is currently trading at $98,454, consolidating within a well-defined ascending channel. After a strong rally, BTC has tested the upper boundary of the channel but faced resistance, leading to a slight retracement.
Key Technical Highlights:
Support Zone: The lower boundary of the channel, around $96,000-$96,200, continues to provide robust support, as marked by multiple rebounds.
Resistance Zone: The upper boundary near $100,000 acts as the immediate resistance. A breakout above this level could pave the way for further gains, potentially targeting $102,000 and beyond.
Possible Scenarios:
Bullish Breakout: If Bitcoin breaks above the $100,000 resistance, it could trigger a fresh wave of buying, propelling the price toward the upper levels of the channel.
Pullback: A failure to break the resistance may lead to a pullback toward the $96,000-$96,200 support zone, offering potential re-entry points for buyers.
Key Technical Highlights:
Support Zone: The lower boundary of the channel, around $96,000-$96,200, continues to provide robust support, as marked by multiple rebounds.
Resistance Zone: The upper boundary near $100,000 acts as the immediate resistance. A breakout above this level could pave the way for further gains, potentially targeting $102,000 and beyond.
Possible Scenarios:
Bullish Breakout: If Bitcoin breaks above the $100,000 resistance, it could trigger a fresh wave of buying, propelling the price toward the upper levels of the channel.
Pullback: A failure to break the resistance may lead to a pullback toward the $96,000-$96,200 support zone, offering potential re-entry points for buyers.
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Publications connexes
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.