BTCUSD has reached a significant resistance area after a strong bullish rally and is now showing signs of slowing momentum. The recent price action formed a Change of Character (CHoCH) near resistance, while the previous highs remain relatively weak. This suggests that sellers may become more active if bullish momentum fades.
The highlighted supply zone is acting as the primary resistance. A bearish rejection from this area could trigger a corrective move toward the marked demand zone. The first area of interest is around 59,786, where price may find temporary support. If bearish pressure continues and key support levels fail to hold, the market could extend its decline toward the lower demand zone.
This analysis is based on market structure, support and resistance, and price action. It represents a possible scenario rather than a prediction. Waiting for additional confirmation, such as a bearish candle close or a break below nearby support, can help reduce the risk of false signals.
The highlighted supply zone is acting as the primary resistance. A bearish rejection from this area could trigger a corrective move toward the marked demand zone. The first area of interest is around 59,786, where price may find temporary support. If bearish pressure continues and key support levels fail to hold, the market could extend its decline toward the lower demand zone.
This analysis is based on market structure, support and resistance, and price action. It represents a possible scenario rather than a prediction. Waiting for additional confirmation, such as a bearish candle close or a break below nearby support, can help reduce the risk of false signals.
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What You'll Get
Daily Forex signals with high accuracy
Technical & fundamental analysis
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t.me/+4ZrcWOlv--0xOTg0
Daily Forex signals with high accuracy
Technical & fundamental analysis
Risk management tips to protect your capital
Join now and start winning
t.me/+4ZrcWOlv--0xOTg0
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.