BitcoinLong
Bitcoin's Breakout: Will It Soar or Stall?
Short-Term (1-Hour Chart):
Support Levels: The green lines indicate key support zones at 62,923 and 56,220. If BTC drops, these are likely the levels where the price may bounce back.
Resistance Levels: On the upside, we see resistance levels at 66,099 and 72,060. If BTC breaks above these levels, a stronger upward movement is anticipated.
Expectation: The green projected path suggests a short pullback before a sharp rally towards the resistance of 72,060, indicating potential bullish momentum.
Long-Term (1-Week Chart):
Support and Resistance: The long-term view confirms similar levels, with 66,099 as a crucial resistance and 56,220 as strong support. BTC has bounced back from these levels several times historically.
Outcome: The long-term chart shows a bullish recovery, especially if Bitcoin can break and hold above the 66,099 level, paving the way toward 72,060 and possibly higher.
Support Levels: The green lines indicate key support zones at 62,923 and 56,220. If BTC drops, these are likely the levels where the price may bounce back.
Resistance Levels: On the upside, we see resistance levels at 66,099 and 72,060. If BTC breaks above these levels, a stronger upward movement is anticipated.
Expectation: The green projected path suggests a short pullback before a sharp rally towards the resistance of 72,060, indicating potential bullish momentum.
Long-Term (1-Week Chart):
Support and Resistance: The long-term view confirms similar levels, with 66,099 as a crucial resistance and 56,220 as strong support. BTC has bounced back from these levels several times historically.
Outcome: The long-term chart shows a bullish recovery, especially if Bitcoin can break and hold above the 66,099 level, paving the way toward 72,060 and possibly higher.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.