Bitcoin is currently testing critical support at the base of a rising wedge / symmetrical triangle on the 4-hour Heikin Ashi chart. The market recently rejected a descending resistance trendline, and price is now threatening to break the ascending support.
EMAs: Trading below both the 20 EMA ($117,554) and 50 EMA ($117,762), signaling near-term bearish momentum.
RSI (14): At 45.38, pointing to weakening bullish pressure, approaching neutral-bearish territory.
Pattern Watch: Price has broken below the uptrend support zone, with the next few candles likely to confirm a breakdown or fake out.
Invalidation Zone: Reclaiming $117,500+ would invalidate immediate downside risk.
Downside Confirmation: Sustained move below $115,500 may open downside targets near $112,000–$110,000.
This is a crucial technical juncture. Traders should watch for volume spikes and price reaction to confirm direction. A breakout or breakdown from this triangle will likely define Bitcoin's next multi-thousand-dollar move.
EMAs: Trading below both the 20 EMA ($117,554) and 50 EMA ($117,762), signaling near-term bearish momentum.
RSI (14): At 45.38, pointing to weakening bullish pressure, approaching neutral-bearish territory.
Pattern Watch: Price has broken below the uptrend support zone, with the next few candles likely to confirm a breakdown or fake out.
Invalidation Zone: Reclaiming $117,500+ would invalidate immediate downside risk.
Downside Confirmation: Sustained move below $115,500 may open downside targets near $112,000–$110,000.
This is a crucial technical juncture. Traders should watch for volume spikes and price reaction to confirm direction. A breakout or breakdown from this triangle will likely define Bitcoin's next multi-thousand-dollar move.
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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.