๐น Trend Structure
Price is currently trading above the trendline, suggesting bulls are still in control, but momentum has weakened.
๐น Support Zones
Immediate Support: ๐ต $111,739
Price recently tested this level and bounced, showing demand from buyers.
Key Mid-Support: ๐ต $100,242
Strong historical level where buyers stepped in multiple times.
Major Demand Zone: ๐ช $95,243 โ $96,500
Highlighted purple support box; this is a critical accumulation zone where bulls are likely to defend strongly.
๐น Resistance Levels
Near-term resistance: Around $120,000 โ $124,000 (recent swing highs).
A breakout above this zone could fuel a new bullish rally.
๐น Market Outlook
โ
Bullish Bias as long as price respects the green trendline and stays above $111,739.
โ ๏ธ If the price breaks below $111,739 and the trendline, expect a deeper pullback toward $100,242 or even the major demand zone $95,243.
๐ A breakout above $120K will signal strong continuation to new highs.
๐ Summary:
Trend: Uptrend โ
Key Supports: $111,739 โ $100,242 โ $95,243
Resistance: $120,000 โ $124,000
Bias: Bullish above $111K, cautious below ๐ป