Bitcoin bounced strongly from the 108,200 – 107,000 support zone and is now trading around 111,400, moving closer to the top of the descending channel.
🔑 Key Levels:
Support: 110,400 – 108,200 – 107,000 – 105,500
Resistance: 112,000 – 113,600
📉 Main Trend:
The overall structure is still bearish as long as price trades inside the descending channel.
🎯 Scenarios:
📈 A confirmed breakout above 112,000 – 113,600 would signal strength and open the way to 115,000 – 117,000.
📉 Rejection from this zone could send price back to 110,400 – 108,200.
✨ Update Note:
The market is at a decisive resistance area. Next move depends on whether Bitcoin can break the channel or gets rejected again.
🔑 Key Levels:
Support: 110,400 – 108,200 – 107,000 – 105,500
Resistance: 112,000 – 113,600
📉 Main Trend:
The overall structure is still bearish as long as price trades inside the descending channel.
🎯 Scenarios:
📈 A confirmed breakout above 112,000 – 113,600 would signal strength and open the way to 115,000 – 117,000.
📉 Rejection from this zone could send price back to 110,400 – 108,200.
✨ Update Note:
The market is at a decisive resistance area. Next move depends on whether Bitcoin can break the channel or gets rejected again.
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.