BITCOIN → Market potential change. Chance for growth to 125K...
BTCUSDT , after a false breakdown of support, which we had been preparing for in my last idea, with the support of dovish hints from Powell, soared from 112K to 117K. What's next???
After Powell's speech and the shift in the fundamental background to positive, BTC broke the local bearish structure, forming a rally to 117K. The market exhausted its potential and, against the backdrop of the approaching weekend and a decline in liquidity, entered a correction phase. However, the relatively positive fundamental background should be taken into account when making further decisions. Lower interest rates could support the market...
Technically, after retesting the 112K zone and forming a false breakdown, Bitcoin changed market sentiment. The capture of liquidity and the breakdown of the local downward structure changes the technical situation in favor of buyers. Potential areas of interest could be 117.8, 120.27, and 125K
Resistance levels: 117K, 117.86K, 120.27K
Support levels: 114.6K, 111.9K
If, during the correction, the bulls manage to keep the price above the upper limit of the local trading range, i.e. above the downward channel and above the 114.600 zone, then interest in buying may increase. The market has the potential to test the resistance of the global trading range...
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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.