Bitcoin Analysis:
Bitcoin has broken down and is now retesting the support zone. As mentioned earlier, a shakeout can happen at any time, and this looks like the potential retest phase.
Bullish Scenario:
Reclaims Resistance: If BTC manages to break through the resistance after the retest, it will stabilize for the short term. This could lead to a move towards higher levels.
Bearish Scenario:
Failure to Break Resistance: If the retest fails and BTC can't reclaim the resistance, further downside could be expected.
Targets: Keep an eye on the CME gap at $114,000 and 92K as key levels to watch for potential price action.
Note:
Manage your risk carefully. The market is volatile, and a shakeout could happen anytime. If BTC fails to break resistance after retest, more pain may be ahead.
Bitcoin has broken down and is now retesting the support zone. As mentioned earlier, a shakeout can happen at any time, and this looks like the potential retest phase.
Bullish Scenario:
Reclaims Resistance: If BTC manages to break through the resistance after the retest, it will stabilize for the short term. This could lead to a move towards higher levels.
Bearish Scenario:
Failure to Break Resistance: If the retest fails and BTC can't reclaim the resistance, further downside could be expected.
Targets: Keep an eye on the CME gap at $114,000 and 92K as key levels to watch for potential price action.
Note:
Manage your risk carefully. The market is volatile, and a shakeout could happen anytime. If BTC fails to break resistance after retest, more pain may be ahead.
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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.
🚀 Join my Telegram community for free crypto signals, entry/exit points, and real-time market updates!
👉t.me/CryptoPrime18
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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.