Bitcoin’s relief bounce stalled right at the descending trendline, and the move up couldn’t break through the mid-96k supply zone. Momentum is cooling off again, and volume isn’t supporting a breakout.
Unless price can reclaim that trendline with conviction, the chart still leans corrective. Key areas to watch on the downside remain the mid-80k zone, with stronger support lower in the 70s where demand and volume profile stack up.
For now, BTC is still in a reactive phase. Bulls need a clean close above resistance to shift the structure. Until that happens, caution makes sense.
Unless price can reclaim that trendline with conviction, the chart still leans corrective. Key areas to watch on the downside remain the mid-80k zone, with stronger support lower in the 70s where demand and volume profile stack up.
For now, BTC is still in a reactive phase. Bulls need a clean close above resistance to shift the structure. Until that happens, caution makes sense.
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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.
Check me out linktr.ee/btdcrypto
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.