Bitcoin is showing signs of exhaustion after a strong rally into the $120k region. On the weekly timeframe, several signals point toward a potential corrective leg lower:
📊 Key Technicals
Major Supply Zone: $115k–$120k area has acted as resistance, with sellers defending this level.
Trend Structure: Price has broken momentum after the blow-off move and is now trading below recent highs.
EMA Support: Price is extended above the EMA 60 (94k), leaving room for mean reversion.
COT Data: Commercials are heavily net short with a COT Index blow-off signal, indicating distribution from strong hands to weak hands.
🎯 Trade Thesis
The risk-reward favors the short side from current levels.
Initial downside target sits at the $95k region (prior resistance turned support + EMA alignment).
A break of that level could open the door toward the $80k handle in the medium term.
📌 Plan
Entry: 114k–116k
Stop: Above 120k
Targets:
TP1: 95k
TP2: 80k
💡 This setup combines market structure, supply zone rejection, and institutional positioning via COT. The technical picture suggests Bitcoin is vulnerable to a deeper pullback before any further sustainable rally.
📊 Key Technicals
Major Supply Zone: $115k–$120k area has acted as resistance, with sellers defending this level.
Trend Structure: Price has broken momentum after the blow-off move and is now trading below recent highs.
EMA Support: Price is extended above the EMA 60 (94k), leaving room for mean reversion.
COT Data: Commercials are heavily net short with a COT Index blow-off signal, indicating distribution from strong hands to weak hands.
🎯 Trade Thesis
The risk-reward favors the short side from current levels.
Initial downside target sits at the $95k region (prior resistance turned support + EMA alignment).
A break of that level could open the door toward the $80k handle in the medium term.
📌 Plan
Entry: 114k–116k
Stop: Above 120k
Targets:
TP1: 95k
TP2: 80k
💡 This setup combines market structure, supply zone rejection, and institutional positioning via COT. The technical picture suggests Bitcoin is vulnerable to a deeper pullback before any further sustainable rally.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.