💡 Ideas For #BTCUSD 🪙
📈 Stopping after the rally? What next? 125K or 110K?
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BTC rose and updated its historical maximum to a new record of 118K with “kopecks” (different prices on different exchanges). Now the price has supposedly stopped and entered a consolidation phase, but it is too early to draw any conclusions based on this alone...
Fundamentally, Bitcoin rose following the SP500 and NQ100 indices. The reasons are clearly geopolitical. The correlation level is not high, but the flagship is following the stock indices, which are also updating their historical highs.
Technically, Bitcoin has emerged from a two-month consolidation and entered a realization phase. So what's next? Continuation of the phase or correction? Let's take a look.
On the daily chart, I would highlight two zones:
The risk and sell zone is below 117,500. If the price closes below this zone today/tomorrow, we will most likely be able to look for signals for a possible correction. As part of the correction, we can expect a decline to 115,500, 114,300, or even to the old ATH of 112K.
The second zone is the buying zone. A closing price above 118,400–118,900 and consolidation with the gradual formation of a breakout of structure may hint at a possible continuation of growth toward psychological targets.
Resistance levels: 118,400, 118900
Support levels: 117100, 116700, 115500
In the chart above, I have highlighted the situations, levels, and zones that interest me more precisely.
Now I am waiting for Bitcoin to retest resistance or support and confirm certain levels, based on which decisions can be made. I think that in the near future, Bitcoin will show us where it is headed. Updates will be published as something interesting emerges...
📈 Stopping after the rally? What next? 125K or 110K?
———————————————
BTC rose and updated its historical maximum to a new record of 118K with “kopecks” (different prices on different exchanges). Now the price has supposedly stopped and entered a consolidation phase, but it is too early to draw any conclusions based on this alone...
Fundamentally, Bitcoin rose following the SP500 and NQ100 indices. The reasons are clearly geopolitical. The correlation level is not high, but the flagship is following the stock indices, which are also updating their historical highs.
Technically, Bitcoin has emerged from a two-month consolidation and entered a realization phase. So what's next? Continuation of the phase or correction? Let's take a look.
On the daily chart, I would highlight two zones:
The risk and sell zone is below 117,500. If the price closes below this zone today/tomorrow, we will most likely be able to look for signals for a possible correction. As part of the correction, we can expect a decline to 115,500, 114,300, or even to the old ATH of 112K.
The second zone is the buying zone. A closing price above 118,400–118,900 and consolidation with the gradual formation of a breakout of structure may hint at a possible continuation of growth toward psychological targets.
Resistance levels: 118,400, 118900
Support levels: 117100, 116700, 115500
In the chart above, I have highlighted the situations, levels, and zones that interest me more precisely.
Now I am waiting for Bitcoin to retest resistance or support and confirm certain levels, based on which decisions can be made. I think that in the near future, Bitcoin will show us where it is headed. Updates will be published as something interesting emerges...