Bitcoin Update – Price Action Still on Track
Yesterday’s scenario has continued to play out with precision. BTC remains guided by the descending channel, each time touching the upper trendline it quickly rejects and moves lower. At present, price is reacting around the midline of the channel, near 113,000 – exactly the level highlighted earlier as an area to watch.
With this corrective move, there is scope for BTC to retest the 115,000 region before resuming its broader downtrend. The next downside target sits near 110,000, as larger timeframe structures usually require a corrective pullback before continuing with the main trend – something that aligns closely with Dow Theory principles.
Today’s focus is also on interest rate discussions, which could bring higher volatility across global financial markets as investors remain cautious. However, FOMC outcomes tend to have limited impact on Bitcoin given its nature as a relatively independent asset, unlike gold or forex markets that are more sensitive to macroeconomic drivers.
For short-term trading, traders may consider long positions near 113,000 with a tight stop just below the newly formed support, aiming for a move towards 115,000 before reassessing the broader trend.
Patience and discipline remain key. Sticking to a well-defined plan rather than reacting emotionally to intraday swings will often lead to stronger trading outcomes.
What’s your view on Bitcoin’s next move? Share your thoughts in the comments.
#BTCUSD #Bitcoin #CryptoAnalysis #TechnicalAnalysis #PriceAction #Trendline #DowTheory #CryptoTrading #SwingTrading #UKTrading
Yesterday’s scenario has continued to play out with precision. BTC remains guided by the descending channel, each time touching the upper trendline it quickly rejects and moves lower. At present, price is reacting around the midline of the channel, near 113,000 – exactly the level highlighted earlier as an area to watch.
With this corrective move, there is scope for BTC to retest the 115,000 region before resuming its broader downtrend. The next downside target sits near 110,000, as larger timeframe structures usually require a corrective pullback before continuing with the main trend – something that aligns closely with Dow Theory principles.
Today’s focus is also on interest rate discussions, which could bring higher volatility across global financial markets as investors remain cautious. However, FOMC outcomes tend to have limited impact on Bitcoin given its nature as a relatively independent asset, unlike gold or forex markets that are more sensitive to macroeconomic drivers.
For short-term trading, traders may consider long positions near 113,000 with a tight stop just below the newly formed support, aiming for a move towards 115,000 before reassessing the broader trend.
Patience and discipline remain key. Sticking to a well-defined plan rather than reacting emotionally to intraday swings will often lead to stronger trading outcomes.
What’s your view on Bitcoin’s next move? Share your thoughts in the comments.
#BTCUSD #Bitcoin #CryptoAnalysis #TechnicalAnalysis #PriceAction #Trendline #DowTheory #CryptoTrading #SwingTrading #UKTrading
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💠Accurate signals 🥉 a standardised trading system.
🍑Free training and daily sharing of market experience.
t.me/+9B0zBuS1rboxZTY1
🍑Free training and daily sharing of market experience.
t.me/+9B0zBuS1rboxZTY1
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.