#bitcoin yearly candle | TMC na Binance Square

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#bitcoin yearly candle 

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Market Update: Bitcoin continues to face significant resistance around the $106,000 level, with strong 4-hour resistance preventing further upward movement. The key support level to watch is $102,750 (previous week's high), as holding this level is crucial for a potential move past $106,000 in the near term. Altcoins are facing downward pressure this morning, largely due to rising Bitcoin dominance. However, SOL and TRUMP remain exceptions, showing positive performance amidst the broader weakness in altcoins. Caution is advised when trading altcoins until this dominance trend stabilizes.

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Market Update Bitcoin reached the $106k level faster than expected, but a rejection followed, as resistance in this area was anticipated. Currently, BTC is testing 4-hour support at $102,750 (previous week's high). Should this support level hold, a retest of $106k is likely. However, if the support fails, the next focus shifts to the $100k mark.

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Market Update Yesterday’s levels played out perfectly as expected. The resistance at $97.5k (marked by the orange line) was broken, followed by a flawless backtest before the price moved towards $103k. Looking ahead, I’m watching for consolidation and a daily close above $100k, which would increase the likelihood of a move towards $106k. In the event of a correction, it’s crucial that we don’t see any 4-hour closes below $97.5k.

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Market Update Bitcoin continued its strong upward momentum yesterday, breaking through the $97.5k resistance on the 4-hour chart. However, it faced resistance just above the $100k level, where it has been unable to push past so far. The $97.5k level remains a key zone to watch for any potential retest. If this area holds as support, BTC could aim for a move towards the $103k mark in the near term.

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In 50 minute we'll get the CPI print

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