Bitcoin stabilizes a safe zone between two points, 98800 (upper vertex) and 93910 (lower vertex). As long as the price does not fall below 93910, Bitcoin can clear lower levels such as 87, 85, and even further down to identify and eliminate reversal zones.
The intermediate reversal point in this process is 92790; meaning if a correction or pullback occurs around 89, the reversal is expected to extend up to approximately 92790. This structure allows traders to analyze the drop confidently and assess the probability of a price reversal based on these levels.
Therefore, maintaining the price above 93910 is crucial for clearing lower levels with the aim of a strong and reliable rebound while preserving the safe zone within this range.
The intermediate reversal point in this process is 92790; meaning if a correction or pullback occurs around 89, the reversal is expected to extend up to approximately 92790. This structure allows traders to analyze the drop confidently and assess the probability of a price reversal based on these levels.
Therefore, maintaining the price above 93910 is crucial for clearing lower levels with the aim of a strong and reliable rebound while preserving the safe zone within this range.
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.
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.