💎 BTC WEEKEND PLAN UPDATE (26/07)
NOTABLE BTC NEWS
The cryptocurrency market is attempting to stabilize after a wave of sell-offs during Friday’s Asian session, when Bitcoin (BTC) dropped to an intraday low of $114,723. A recovery trend is gradually strengthening, with BTC trading at $115,868 at the time of writing, indicating that buying interest at lower levels may increase in upcoming sessions.
TECHNICAL ANALYSIS PERSPECTIVE
Symmetrical Triangle Pattern
BTC is currently fluctuating within a symmetrical triangle pattern, with converging upper and lower trendlines. This pattern typically signals a strong consolidation phase before a decisive breakout.
Scenario unfolded as planned:
• The price failed to break the resistance zone around $120,000 (previously forecasted as a likely failed breakout zone).
• BTC then dropped sharply to the support zone around $115,000, touching the lower trendline and the potential breakout zone.
• At this level, the price rebounded as expected, indicating strong buying pressure at support.
MA lines supporting the trend:
• The price is currently moving around the 200-day MA (red line), showing that the dynamic support is working effectively.
• The 50-day MA (yellow line) is acting as short-term resistance. If broken, it could support the recovery momentum.
Two potential upcoming scenarios:
🔼 If BTC breaks above the $119,500 – $120,000 zone with strong volume, it may continue to test higher levels around $123,000 – $125,000.
🔽 Conversely, if it faces strong rejection around $119K and turns downward, BTC may retest the support zone at $114,000 – $115,000 once again.
Stay tuned to the channel for the latest and continuous updates on XAUUSD, CURRENCIES, and BTC.
NOTABLE BTC NEWS
The cryptocurrency market is attempting to stabilize after a wave of sell-offs during Friday’s Asian session, when Bitcoin (BTC) dropped to an intraday low of $114,723. A recovery trend is gradually strengthening, with BTC trading at $115,868 at the time of writing, indicating that buying interest at lower levels may increase in upcoming sessions.
TECHNICAL ANALYSIS PERSPECTIVE
Symmetrical Triangle Pattern
BTC is currently fluctuating within a symmetrical triangle pattern, with converging upper and lower trendlines. This pattern typically signals a strong consolidation phase before a decisive breakout.
Scenario unfolded as planned:
• The price failed to break the resistance zone around $120,000 (previously forecasted as a likely failed breakout zone).
• BTC then dropped sharply to the support zone around $115,000, touching the lower trendline and the potential breakout zone.
• At this level, the price rebounded as expected, indicating strong buying pressure at support.
MA lines supporting the trend:
• The price is currently moving around the 200-day MA (red line), showing that the dynamic support is working effectively.
• The 50-day MA (yellow line) is acting as short-term resistance. If broken, it could support the recovery momentum.
Two potential upcoming scenarios:
🔼 If BTC breaks above the $119,500 – $120,000 zone with strong volume, it may continue to test higher levels around $123,000 – $125,000.
🔽 Conversely, if it faces strong rejection around $119K and turns downward, BTC may retest the support zone at $114,000 – $115,000 once again.
Stay tuned to the channel for the latest and continuous updates on XAUUSD, CURRENCIES, and BTC.
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NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.