📈 Sale on positive news? What to expect? 100K or 130K?
$BTC unsuccessfully ended another attempt to break through the 112K-113K zone. The positive background (NFP) did not affect the price, and a bearish setup formed on D1...
D1 is forming a pin-bar relative to the strong resistance zone of 112K - 113K, positive news is quickly sold off, and the price, rebounding from the resistance of the trading range, closes near the bearish trigger of 110500. Bitcoin looks quite uncertain as it faces selling pressure in the 112K-113K zone. The price cannot consolidate above this area despite the previously broken correction resistance. There is logic in this maneuver... The market is betting on a more than 90% chance of interest rate cuts, and by that point, the price of Bitcoin may fall to the maximum permissible limits before further growth. Areas of interest may be 107K - 105K - 100K
Resistance levels: 111.9K, 113.3K, 117K
Support levels: 110.5K, 107.4K, 105.0K
A breakdown of the 110.5K support could trigger further sell-offs towards the support of the key trading range. Within the current downward cycle, the price may well test 105,000, which is a fairly strong liquidity zone. The fundamental background is positive, and the current sell-off may be manipulative movement before the emergence of a bullish driver...
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