BTC Unfolds in Complex Way After Hitting 123K
Bitcoin recently reached a historic all-time high near 123,200, marking a strong bullish run. Over the past two weeks, BTC has been consolidating, showing signs of a potential upward movement.
However, today's price action disrupted that bullish setup and introduced bearish momentum.
At this moment, two scenarios are possible:
1️⃣ Continued Bullish Momentum: The prevailing trend remains strongly bullish. Selling BTC now is risky, as there's a high chance it could resume its aggressive rise again.
False Bearish Breakout: The recent bearish signal may be misleading. BTC may be forming a broader accumulation structure, paving the way for another upward move.
2️⃣ Profit-Taking Phase: This bearish shift might be valid, suggesting that Bitcoin is entering a profit-taking cycle after an extended rally. If this scenario unfolds, a deeper correction may follow, aligning with the current technical pattern.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Bitcoin recently reached a historic all-time high near 123,200, marking a strong bullish run. Over the past two weeks, BTC has been consolidating, showing signs of a potential upward movement.
However, today's price action disrupted that bullish setup and introduced bearish momentum.
At this moment, two scenarios are possible:
1️⃣ Continued Bullish Momentum: The prevailing trend remains strongly bullish. Selling BTC now is risky, as there's a high chance it could resume its aggressive rise again.
False Bearish Breakout: The recent bearish signal may be misleading. BTC may be forming a broader accumulation structure, paving the way for another upward move.
2️⃣ Profit-Taking Phase: This bearish shift might be valid, suggesting that Bitcoin is entering a profit-taking cycle after an extended rally. If this scenario unfolds, a deeper correction may follow, aligning with the current technical pattern.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
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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.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
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.