Bitcoin Analysis : Beware of a Potential Reversal Below $92,000

#BTC☀ #BullishBitcoin #Tecnicalanalaysis #BinanceSquareFamily #CryptoMarketMoves

Bitcoin’s recent bullish momentum within an ascending channel could face a bearish retracement if key support levels break. Here's a summary of the analysis :

Channel Formation :

Pattern :

Bitcoin is trading within an ascending channel but is rejecting resistance near $97,000.

Bearish Trigger :

A breakdown below the midline or lower boundary could confirm bearish momentum.


Indicators to Watch :

RSI (65.71) : Slightly overbought. A drop below 50 confirms weakening momentum.

MACD : Bearish crossover imminent; histogram signals declining bullish strength.

Volume Flow (3.92) : Flattening; a negative shift confirms selling pressure.

Key Levels :

Support :

$92,000 (near-term), $85,000 (critical). A breakdown below $85,000 could target $75,000.

Resistance : $97,000, the channel's upper boundary.

Trading Advice :

Bearish Setup : Enter short positions if Bitcoin breaks below $92,000 with RSI below 50 and bearish MACD.

Target Levels : $85,000 (primary), $75,000 (secondary).
Stop-Loss : Above $97,000 resistance.

Conclusion :
Bitcoin’s structure hints at potential downside if bearish signals align. However, holding above $92,000 support keeps the bullish trend intact.

Pro-Tip : Monitor RSI, MACD, and volume for confirmation before executing trades.