#BTC /USDT
Currently, the price movement shows signs of a downward trend from this level, indicating a potential rebound.
However, a breakout above the supply zone will render the current model invalid.
ANALYSIS #BTC /USDT
Currently, Bitcoin is trading in a horizontal supply zone, where price action shows signs of consolidation. The 21-day and 50-day moving averages are positioned below the current price, acting as dynamic support and indicating an underlying bullish momentum.
A breakout above the supply zone, accompanied by strong volume, may signal the continuation of the upward trend. However, if the price fails to break this level, a potential pullback and subsequent retracement may occur. Traders should closely monitor price behavior in this critical zone to confirm the next move.
Currently, Bitcoin is trading in a horizontal supply zone, where price action shows signs of consolidation. The 21-day and 50-day moving averages are positioned below the current price, acting as dynamic support and indicating an underlying bullish momentum.
A breakout above the supply zone, accompanied by strong volume, may signal the continuation of the upward trend. However, if the price fails to break this level, a potential pullback and subsequent retracement may occur. Traders should closely monitor price behavior in this critical zone to confirm the next move.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
104,794.06
+1.46%