Bitcoin has shown a strong recovery after reclaiming the 50 EMA, which had been a major dynamic resistance across multiple levels. After accumulating between $83,000–$87,000, BTC broke out sharply and is now consolidating again just below a major resistance zone at $95,000–$97,000.
The current price action shows another accumulation phase just under resistance — similar to the previous pattern before the breakout.
A clean breakout above this resistance zone could explode Bitcoin toward $100,000+.
On the downside, if rejection occurs, the 50 EMA around $87,000 could act as strong support once again.
The current price action shows another accumulation phase just under resistance — similar to the previous pattern before the breakout.
A clean breakout above this resistance zone could explode Bitcoin toward $100,000+.
On the downside, if rejection occurs, the 50 EMA around $87,000 could act as strong support once again.
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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.