Bitcoin Key Support Levels and Potential Reversal Zones

5 июл.

Bitcoin recently approached the anticipated 50k level, nearly fulfilling our previous projection. However, increased selling pressure suggests a potential further decline. The 50k zone now serves as a crucial internal demand area, and its reaction will be pivotal for short-term price direction.

Should the 50k support fail, we've identified a strong external demand area on the chart that's expected to halt any deeper retracement. This zone provides a robust foundation for potential accumulation and trend reversal.

On the upside, an immediate resistance level has been identified as a potential sell-off point. We should monitor this level for possible profit-taking or short entry opportunities.

The current price action indicates a continued bearish bias in the short term, but the identified support levels offer potential for a bullish reversal. We should closely watch for signs of buying pressure or bullish divergences at these key levels.

Overall, Bitcoin's price movement remains within the anticipated range, with critical support and resistance levels clearly defined.

Risk management is crucial given the current market volatility.

6 июл.

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BTC is forming new corrective upside waves as part of wave 4, potentially pushing the market towards the 60k area before another decline.

7 июл.

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8 июл.

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The downside is done, next move should face 60k-62k area

9 июл.

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13 нояб.

Заметка

Target to watch for this massive setup is provided on the chart.