Bitcoin's Path to 109K Key Levels to Watch

przedwczoraj

Hi guys,

Here’s my updated Bitcoin analysis, offering two potential scenarios: Plan A and a follow-up Plan B for a breakdown below key support level.

Plan A focuses on the potential development of an ascending broadening wedge targeting the 107k–109k zone. This scenario hinges on Bitcoin maintaining price levels above the critical 86k support.

It’s important to note that any sustained movement below 86k will immediately invalidate this plan. The primary reasoning behind this outlook is the continuation of a higher high (HH) and potential higher low (HL) structure, observed in a zig-zag price pattern.

Let me know your thoughts on this view, drop your comments, and let’s discuss!

przedwczoraj

Uwaga

Bitcoin is recovering strongly after its drop to the 91k region, with a $5,000 rally pushing the price to approximately $97,240. However, the price is now approaching a critical area on the chart, including a dynamic trendline and a horizontal resistance zone. These levels are pivotal—any significant rejection here could shift the current outlook, while a breakout would signal massive bullish momentum. Additionally, there’s a developing bullish pole-and-flag pattern, which, if confirmed, could drive Bitcoin toward the $100,000 mark.

wczoraj

Zlecenie aktywne

The previously identified pattern remains valid, despite significant selling pressure hindering its development. This update aims to highlight a critical level to monitor for final confirmation of the pattern. A breakout above the $97,750 level will serve as a bullish trigger, paving the way for a potential move toward the wave 5 target outlined on the chart.

Currently, the price is reacting at the immediate demand zone, but this zone is categorized as a weaker support area. Should the price retrace further, it may retest the internal demand zone, which represents a stronger structural support level. Stay vigilant and monitor how the price action unfolds from these critical areas.

14 godzin temu

Uwaga

New update on the current BTC movement.

9 godzin temu

Uwaga

BTC cleared 9780 area just as if it is nothing, this is strong momentum right now.

7 godzin temu

Uwaga

The breakout is now confirmed, and a pullback is underway. Let’s monitor the highlighted zones closely for strategic decision-making.