Bitcoin has reached a significant support level, coinciding with the 50-day moving average around 112,000. The recent correction appears to have been absorbed by the market, and the broader uptrend remains intact.
This area presents an attractive opportunity for long entries, with a recommended stop-loss placed just below Friday’s low.
Target levels for the upward movement are projected at 117,000, 121,000, 123,300, and potentially higher.
Traders should monitor price action closely around this zone to confirm bullish momentum and manage risk accordingly.
This area presents an attractive opportunity for long entries, with a recommended stop-loss placed just below Friday’s low.
Target levels for the upward movement are projected at 117,000, 121,000, 123,300, and potentially higher.
Traders should monitor price action closely around this zone to confirm bullish momentum and manage risk accordingly.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.