Bitcoin Showed Breakout zone from top Side

5 giorni fa

Bitcoin’s price is currently testing a new all-time-high zone and encountering strong resistance around 123,000. A false breakout has formed at this level, and the market has entered a phase of local consolidation.

Price action is now moving aggressively toward testing the uptrend support zone. While a retest of 123,000 cannot be completely ruled out, technical signals from Friday’s sell-off — including profit-taking and a long upper shadow on the daily candlestick — suggest that a medium-term correction is likely.

I expect Bitcoin to retrace toward the local break-even / imbalance zone near 117,500 before attempting another move to the upside.

You may find more details in the chart.
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3 giorni fa

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