BTC is currently testing a key resistance zone near 79K after a strong bullish impulse. Price is showing signs of exhaustion with multiple upper wicks forming.
This zone is likely a liquidity area, and we may see a fake breakout before a potential downside move during the New York session.
🔴 Bearish Scenario: Entry: 78,800 – 79,200
SL: 80,000
Targets: 78,000 / 77,800 / 77,300
🟢 Bullish Scenario: Only valid if price breaks and holds above 79,800 with strong volume.
⚠️ Expect volatility and stop hunts during NY session.
This zone is likely a liquidity area, and we may see a fake breakout before a potential downside move during the New York session.
🔴 Bearish Scenario: Entry: 78,800 – 79,200
SL: 80,000
Targets: 78,000 / 77,800 / 77,300
🟢 Bullish Scenario: Only valid if price breaks and holds above 79,800 with strong volume.
⚠️ Expect volatility and stop hunts during NY session.
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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.