Bitcoin (BTC) Analysis – Daily Chart
Bitcoin has broken below the ascending channel that has held for several months. This breakdown indicates a possible shift in momentum from bullish to bearish.
At the moment, the price is trading around $105,900, with resistance seen near $110,000 and $117,400. As long as BTC stays below these levels, the bias remains bearish.
If the price continues to fall, the next potential downside targets are around $99,500, $88,500, and $80,000.
However, if Bitcoin manages to recover and close back above $110,000, it could re-enter the previous range and attempt to retest the upper resistance area near $117,400.
The dynamics of change have been very high recently, so anything is possible.
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 has broken below the ascending channel that has held for several months. This breakdown indicates a possible shift in momentum from bullish to bearish.
At the moment, the price is trading around $105,900, with resistance seen near $110,000 and $117,400. As long as BTC stays below these levels, the bias remains bearish.
If the price continues to fall, the next potential downside targets are around $99,500, $88,500, and $80,000.
However, if Bitcoin manages to recover and close back above $110,000, it could re-enter the previous range and attempt to retest the upper resistance area near $117,400.
The dynamics of change have been very high recently, so anything is possible.
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 Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
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.