Is a Bitcoin Breakout or Breakdown Coming? โ ๏ธโ ๏ธ Hereโs What to Expect ๐ฅ๐ฅ๐ฅ
๐Key Levels to Watch in the Coming Weeks ๐ฅ๐ฅ
๐คBitcoinโs price action has been giving traders a lot to think about lately. If youโre watching the charts closely, you might wonder where the next big move will take us. Letโs dive into the current setup.
๐๐ฅThe chart weโre looking at is a 2-hour timeframe of BTC/USD, and itโs packed with critical insights.
Resistance Level:๐ฅThe 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.
๐Support 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.
๐ฃโ ๏ธIf prices can't break up resistance 59860 60260 see you support $49200 or $43600โ ๏ธโ ๏ธ will take time 1 or 2 weeks.
๐Bullish 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.
๐ญBearish Scenario: if Bitcoin canโt push through the resistance and starts to fall, itโs likely to test the $49,200 support first. If this level doesnโt hold, the next stop could be as low as $43,600.
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