Bitcoin is showing repeated rejections from the $110K and $108K zones. Currently, it's moving upward from the $98K area toward resistance, but price action remains compressed between the major trendline support and resistance.
This range-bound structure suggests that a pullback may be imminent, especially as RSI is forming consistent bearish divergence and the MACD is signaling weakness. A liquidity sweep to the downside could occur before a decisive move.
However, if BTC manages to break above the converging trendlines with strong volume, we may see a move toward $110K again for a retest. Watch $106K as an intermediate support. If that fails, further downside may follow.
📌 Trading Insight: Wait for confirmation before entering — don’t jump in without a clear signal.
This range-bound structure suggests that a pullback may be imminent, especially as RSI is forming consistent bearish divergence and the MACD is signaling weakness. A liquidity sweep to the downside could occur before a decisive move.
However, if BTC manages to break above the converging trendlines with strong volume, we may see a move toward $110K again for a retest. Watch $106K as an intermediate support. If that fails, further downside may follow.
📌 Trading Insight: Wait for confirmation before entering — don’t jump in without a clear signal.
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FOLLOW MY TELEGRAM CHANNEL FOR FREE : bit.ly/3JfrpgV
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.