Bitcoin has faced strong resistance at its All-Time High around $120,800 and is showing signs of a potential bearish correction. Price has broken below the ascending trendline and is now heading toward the Fair Value Gap (FVG) zone. If selling pressure continues, price may revisit the strong support area near $109,800.
🔸 Trend: Bullish to corrective
🔸 Pattern: Trendline break & FVG fill
🔸 Resistance: $120,844
🔸 Support Zone: $109,800
🔸 Indicators: Ichimoku Cloud provides dynamic support/resistance
🔸 Fundamentals: Possible profit-taking and macro risk-off sentiment may drive a short-term pullback.
Outlook: A break below $116K could accelerate downside momentum toward $110K support. Ideal for short setups with tight risk management.
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This is not financial advice. Please conduct your own research and manage risk accordingly.
🔸 Trend: Bullish to corrective
🔸 Pattern: Trendline break & FVG fill
🔸 Resistance: $120,844
🔸 Support Zone: $109,800
🔸 Indicators: Ichimoku Cloud provides dynamic support/resistance
🔸 Fundamentals: Possible profit-taking and macro risk-off sentiment may drive a short-term pullback.
Outlook: A break below $116K could accelerate downside momentum toward $110K support. Ideal for short setups with tight risk management.
Note: If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
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For More Help
Telegram @Signals_98
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Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Related publications
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.