Bitcoin Forming Strong Base with Buyers Regaining Control

Oct 16

The Bitcoin/USD chart illustrates a strong accumulation phase forming near a significant support area, shown by multiple rebounds marked with arrows. Each retest of this zone demonstrates that buyers are actively defending the level, preventing further downside movement. A clear descending trendline reveals consistent selling pressure; however, recent candles indicate that bearish momentum is losing strength. This repeated defense at the bottom suggests growing buyer interest and potential preparation for a bullish reversal. If price manages to close above the descending line, it may confirm a shift in market sentiment from selling to buying. Overall, the chart reflects stabilization after a prolonged decline, with increasing signs that buyers are gradually regaining control over the market direction.

Entry Zone: Buy
🎯 Target 1 : 113,270
🎯 Target 2 : 115,795


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Oct 16

Trade active