BTC is currently priced at 79000, pulling back from highs into sideways correction. 78500 is the key strong support and bullish-bearish lifeline for the short term. The overall mid-term bullish structure remains intact, and the current decline is a healthy correction during the uptrend, with a directional choice approaching.
Key Support
78500 Major strong support
77000–77300 Secondary support zone
Key Resistance
80000–80300 First rebound resistance
81500–82000 Mid-term strong pressure
82500–83500 Major high-level resistance zone
Trading Strategy
Go long on stable price action near the 78500 support. As long as 78500 is not broken effectively, the bullish pattern remains valid.
If 78500 is decisively broken, further downside will open, with a target near 77000.
Use 78500 as the major watershed for short-term trading, apply strict stop loss, avoid chasing highs and blind bottom hunting.
Key Support
78500 Major strong support
77000–77300 Secondary support zone
Key Resistance
80000–80300 First rebound resistance
81500–82000 Mid-term strong pressure
82500–83500 Major high-level resistance zone
Trading Strategy
Go long on stable price action near the 78500 support. As long as 78500 is not broken effectively, the bullish pattern remains valid.
If 78500 is decisively broken, further downside will open, with a target near 77000.
Use 78500 as the major watershed for short-term trading, apply strict stop loss, avoid chasing highs and blind bottom hunting.
Trade active
Trade closed: target reached
Note
BTC Breaks 82000!
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.
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.