Bitcoin (BTC) Market Analysis (Rephrased):
BTC is currently reacting to a support zone, indicating a potential phase of balance or consolidation In the current market environment, there is formation growth, suggesting the market is preparing for a move toward resistance. There is strong horizontal support around 114,000, which seems to be holding. The primary price action suggests a long (bullish) scenario.
A reversal (from the recent downtrend or consolidation) is expected soon The next logical resistance level is around 120,000.
BTC is currently reacting to a support zone, indicating a potential phase of balance or consolidation In the current market environment, there is formation growth, suggesting the market is preparing for a move toward resistance. There is strong horizontal support around 114,000, which seems to be holding. The primary price action suggests a long (bullish) scenario.
A reversal (from the recent downtrend or consolidation) is expected soon The next logical resistance level is around 120,000.
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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.