After reaching a new ATH at 108k, Bitcoin experienced a significant drop following Jerome Powell's speech that the Fed cannot hold Bitcoin and is not seeking to change that, which seems to have caused some uncertainty in the market. As a result, BTC price saw a steep decline, but it recently rebounded, almost touching the 100k level again.
The current focus for Bitcoin is a critical support area at around 91k. This area has held up well in recent price action, and we saw a recovery bounce from this region again. There is a strong chance that BTC could revisit this support area in the coming days, and it could provide another opportunity for a potential rebound. This support area is essential because it represents a significant price range where buyers have stepped in to defend the uptrend. If Bitcoin does test this zone again and holds above 91k, the probability of a further upward move remains high.
In addition to the immediate price action, there’s a key factor to consider: the monthly candle close. Bitcoin needs to close the current monthly candle above 96k for the market to maintain its bullish sentiment. A green monthly close at this level would provide strong confirmation that the overall trend remains intact and that BTC is on track for further price appreciation. The next few days are critical for determining whether BTC can sustain momentum to close the month in the green. If Bitcoin can hold above 96k by the end of the month, it would signal that the upward trend is still in play and that a continuation toward higher levels could be on the horizon.
Looking ahead to next week, there are two possible scenarios:
1. Continued Support Test: Bitcoin may dip back towards the 91k support area. If this area holds strong, it could set up another bullish reversal, targeting a move back toward the 100k area or even beyond.
2. Break Below Support: If Bitcoin fails to maintain support in the 91k area, we could see further downside, potentially testing lower levels. In this case, caution is warranted, as the next major support zone would be considerably lower.
Conclusion
The next week could be crucial for Bitcoin’s price action. A monthly candle close above 96k would reinforce the bullish outlook, but if Bitcoin fails to hold support or closes the month in red, we may see more volatility in the near
BTC is trading at the support trend line and about to break below it. The price is trading below the 100 and 200 EMA, indicating bearish momentum. If the price breaks down, we can expect a bearish move, with a possible drop to 87K. The next strong support is at the $87-88K level, where we can anticipate a significant bounce
#NOT has a perfect pattern for a good rise in think that there is an ABC pattern which has 5 waves in the B wave like ABCDE after this ABC pattern market will rise and make a super spike up ! 🚨🚨 👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸
Binance Square Family...❤️🔥❤️🔥 I hope this analysis has been helpful to you. If you have any questions, please feel free to leave a comment. I'm always happy to help. I appreciate your support!
BTC/USDT: Breaking Free from a Descending Broadening Wedge🚀🚀
$BTC
Pattern Breakdown:
Descending Broadening Wedge: Characterized by lower highs (LH) and lower lows (LL), this pattern reflects increasing volatility and a potential exhaustion of selling pressure. Historically, these patterns often resolve to the upside as buyers reclaim control. -------------------------------------- Current Structure: BTC has bounced from the lower boundary of the wedge, showing signs of a bullish reversal. The price action aligns well with the theoretical breakout strategy depicted in the diagram, highlighting a high-probability long setup. -------------------------------------- Key Levels to Watch: Immediate Resistance: The upper boundary of the wedge around $98,000 serves as the first hurdle. Breakout Target: A successful breakout above $98,000 could push BTC toward the highlighted supply zone at $101,200-$102,000. Support Levels: Critical support rests near $93,500, where bulls need to maintain control to preserve the bullish outlook. -------------------------------------- Momentum Indicators: Volume: A noticeable decline during the wedge's formation suggests consolidation, often preceding a strong breakout. Relative Strength Index (RSI): The RSI is turning upward from oversold levels, signaling increasing buying pressure. -------------------------------------- Trade Setup: Entry: Watch for a confirmed breakout above $98,000. Targets: The first target lies at $101,200, with the potential for further upside toward $105,000 if momentum sustains. Stop Loss: A break below $93,500 invalidates the bullish scenario.
Considering the trend lines and dynamic support, as well as the overlap with Fibonacci 0.618, we expect Solana to rise in price. Just buy in spot now and hold for big boom..... 💥💥💥 🚨🚨 👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸
Binance Square Family...❤️🔥❤️🔥 I hope this analysis has been helpful to you. If you have any questions, please feel free to leave a comment. I'm always happy to help. I appreciate your support!
After reaching a new ATH at 108k, Bitcoin experienced a significant drop following Jerome Powell's speech that the Fed cannot hold Bitcoin and is not seeking to change that, which seems to have caused some uncertainty in the market. As a result, BTC price saw a steep decline, but it recently rebounded, almost touching the 100k level again.
The current focus for Bitcoin is a critical support area at around 91k. This area has held up well in recent price action, and we saw a recovery bounce from this region again. There is a strong chance that BTC could revisit this support area in the coming days, and it could provide another opportunity for a potential rebound. This support area is essential because it represents a significant price range where buyers have stepped in to defend the uptrend. If Bitcoin does test this zone again and holds above 91k, the probability of a further upward move remains high.
In addition to the immediate price action, there’s a key factor to consider: the monthly candle close. Bitcoin needs to close the current monthly candle above 96k for the market to maintain its bullish sentiment. A green monthly close at this level would provide strong confirmation that the overall trend remains intact and that BTC is on track for further price appreciation. The next few days are critical for determining whether BTC can sustain momentum to close the month in the green. If Bitcoin can hold above 96k by the end of the month, it would signal that the upward trend is still in play and that a continuation toward higher levels could be on the horizon.
Looking ahead to next week, there are two possible scenarios:
1. Continued Support Test: Bitcoin may dip back towards the 91k support area. If this area holds strong, it could set up another bullish reversal, targeting a move back toward the 100k area or even beyond.
2. Break Below Support: If Bitcoin fails to maintain support in the 91k area, we could see further downside, potentially testing lower levels. In this case, caution is warranted, as the next major support zone would be considerably lower.
Conclusion
The next week could be crucial for Bitcoin’s price action. A monthly candle close above 96k would reinforce the bullish outlook, but if Bitcoin fails to hold support or closes the month in red, we may see more volatility in the near term.
Please don’t forget to boost this idea and leave your comments below.
Ethereum has printed a Rising Star candle on the daily chart, signaling a potential recharge for the next bull run! 📈
✅ Healthy Correction: ETH retraced to $3,000 over the past 2 days, cooling off the rally and resetting momentum. ✅ Bullish Signal: The Rising Star candle confirms renewed buying interest and bullish sentiment.
🔑 Key Level to Watch: If ETH breaks $4,200, the Cup & Handle pattern remains intact on both the daily and weekly timeframes.
🌟 Targets:
146% Gain: Potential move to $7,300 🔥 300% Gain: Long-term goal around $12,600 in early 2025 🚀 ETH is positioning itself as a market leader. Will this candle mark the start of the next big move? 💡
⚠️ Trade wisely and always consider the risks! Let me know your thoughts below! 👇💬
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