Is a Bitcoin Breakout or Breakdown Coming? â ïžâ ïž Hereâs What to Expect đ„đ„đ„
đKey Levels to Watch in the Coming Weeks đ„đ„
đ€Bitcoinâs price action has been giving traders a lot to think about lately. If youâre watching the charts closely, you might wonder where the next big move will take us. Letâs dive into the current setup.
đđ„The chart weâre looking at is a 2-hour timeframe of BTC/USD, and itâs packed with critical insights.
Resistance Level:đ„The price of Bitcoin is currently facing a strong resistance zone between $59,860 and $60,260. This area has proven tough for the bulls to break through recently.
đSupport Levels: On the downside, if Bitcoin fails to break above that resistance, we could see it dropping towards key support levels. The primary supports to watch are $49,200 and $43,600. These levels are critical, as a failure to hold these could lead to even lower prices.
đŁâ ïžIf prices can't break up resistance 59860 60260 see you support $49200 or $43600â ïžâ ïž will take time 1 or 2 weeks.
đBullish Scenario: If Bitcoin manages to break above the $60,260 resistance, we could see a quick rally, potentially leading to new highs.
However, this would require strong buying momentum, which, at the moment, seems to be fading.
đBearish Scenario: if Bitcoin canât push through the resistance and starts to fall, itâs likely to test the $49,200 support first. If this level doesnât hold, the next stop could be as low as $43,600.
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