Hello traders! Here’s my technical outlook on BTCUSDT (2H) based on the current chart structure. After breaking the consolidation range, BTC formed a pivot low near 74,800 and recovered inside the ascending channel. However, after reaching a pivot high near 82,800, the price lost momentum.
Currently, BTC has broken the descending channel even lower and broken the supply zone of 77,500, which now acts as resistance. This confirms the renewed pressure of sellers, and the price is now moving towards the demand zone of 75,400.
My scenario: as long as BTCUSDT remains below 77,500, the bearish bias remains valid. A continued decline could push the price to the demand zone of 75,400 (TP1). A recovery above the resistance level will weaken the bearish sentiment. Manage your risk!
Currently, BTC has broken the descending channel even lower and broken the supply zone of 77,500, which now acts as resistance. This confirms the renewed pressure of sellers, and the price is now moving towards the demand zone of 75,400.
My scenario: as long as BTCUSDT remains below 77,500, the bearish bias remains valid. A continued decline could push the price to the demand zone of 75,400 (TP1). A recovery above the resistance level will weaken the bearish sentiment. Manage your risk!
Trade active
Today we see that we managed to take 76K. However, after this correction, I still expect the price to move even lower!
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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.
🔶 Free telegram channel👉 t.me/heniitrading
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 t.me/henii_trader
💎 I'm open for cooperation/advertising, not interested in rebate
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.