By analyzing the #Bitcoin chart on the daily timeframe, we can see that the price dropped exactly as expected and fell sharply to $80,500. Once it reached this major demand zone, buyers stepped in and Bitcoin bounced back to around $83,900.
As long as BTC can hold above the large demand zone between $74,000 and $81,000, we can expect the next bullish wave to start.
From my perspective, the trend is not bearish! this is still a healthy correction.
From the ATH at $126,200, Bitcoin has corrected 36%, which is completely normal in strong uptrends. Now it’s time to watch for decreasing selling pressure and the beginning of a stronger upside move. This analysis will be updated soon.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
As long as BTC can hold above the large demand zone between $74,000 and $81,000, we can expect the next bullish wave to start.
From my perspective, the trend is not bearish! this is still a healthy correction.
From the ATH at $126,200, Bitcoin has corrected 36%, which is completely normal in strong uptrends. Now it’s time to watch for decreasing selling pressure and the beginning of a stronger upside move. This analysis will be updated soon.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
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By analyzing the As long as BTC holds above the $81000 support zone, I expect the next upside leg toward $94000 to unfold.
This entire move is still a healthy correction inside a strong uptrend.
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⚜️ Free TG Channel : t.me/PriceAction_ICT
✅ Trade directly on TradingView with Opo 👉 bit.ly/4nw4Dzz
✅ OneBullEx | Spartan Arena
Real-market trading competition
onebullex.com/register?inviterCode=7KmSDn
✅ Trade directly on TradingView with Opo 👉 bit.ly/4nw4Dzz
✅ OneBullEx | Spartan Arena
Real-market trading competition
onebullex.com/register?inviterCode=7KmSDn
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.
