Bitcoin Faces Rejection at Resistance: Short-Term Downside
Zaktualizowano
hello guys.
Failed Breakout: Bitcoin attempted to break above the resistance zone around $69,400–$69,600 but was unable to sustain the move, indicating a potential lack of buying strength at these levels.
Broken Trendline: The price has already broken below a key ascending trendline, reinforcing the bearish bias in the short term.
Bearish Zone: The shaded pink area represents a strong resistance zone, which Bitcoin struggled to overcome. Sellers defended this zone effectively.
Potential Downside Target: With the rejection at resistance, the price may head toward the support area around $67,963–$67,934, as indicated by the green zone.
Lower High Formation: The lower high structure suggests that the trend could continue downward if the current pattern holds.
Failed Breakout: Bitcoin attempted to break above the resistance zone around $69,400–$69,600 but was unable to sustain the move, indicating a potential lack of buying strength at these levels.
Broken Trendline: The price has already broken below a key ascending trendline, reinforcing the bearish bias in the short term.
Bearish Zone: The shaded pink area represents a strong resistance zone, which Bitcoin struggled to overcome. Sellers defended this zone effectively.
Potential Downside Target: With the rejection at resistance, the price may head toward the support area around $67,963–$67,934, as indicated by the green zone.
Lower High Formation: The lower high structure suggests that the trend could continue downward if the current pattern holds.
Uwaga
toward the target
Transakcja zamknięta: osiągnięto wyznaczony cel
the final target touchedTransakcja zamknięta: osiągnięto wyznaczony cel
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