BTC just pulled back from the mid-range rejection and is now retesting a key support cluster. The reaction here decides the next leg.
Price is sitting right on top of a major confluence zone: previous structure support, the lower trend line, and a high-volume node that has acted as a pivot multiple times. Lose this area and the “hard stop invalidation” region comes into play, which would likely trigger a deeper move toward the lower range.
Momentum indicators on the 6H are rolling over after failing to reclaim the upper band. Bulls need a higher low and a quick reclaim of the mid-range to keep momentum in their favour. Failure to do so opens the door for a broader corrective structure.
For now, the chart is simple: defend the floor or risk a larger breakdown. Reclaim resistance and the bullish continuation pattern remains intact.
What’s your read on BTC here?
Price is sitting right on top of a major confluence zone: previous structure support, the lower trend line, and a high-volume node that has acted as a pivot multiple times. Lose this area and the “hard stop invalidation” region comes into play, which would likely trigger a deeper move toward the lower range.
Momentum indicators on the 6H are rolling over after failing to reclaim the upper band. Bulls need a higher low and a quick reclaim of the mid-range to keep momentum in their favour. Failure to do so opens the door for a broader corrective structure.
For now, the chart is simple: defend the floor or risk a larger breakdown. Reclaim resistance and the bullish continuation pattern remains intact.
What’s your read on BTC here?
Check me out linktr.ee/btdcrypto
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Check me out linktr.ee/btdcrypto
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.