Bitcoin – Is the Next Breakout Getting Closer? for BITSTAMP:BTCUSD by Yong726
Market Structure The market is currently ranging after a corrective decline. Price is attempting to establish a higher low, but confirmation of a trend reversal requires a break above recent swing highs. Key Resistance First Resistance: 64,500–64,800 This is the first supply zone where recent rallies have struggled to continue. Second Resistance: 65,500–66,000 A decisive breakout above this region would strengthen bullish momentum and shift the medium-term outlook to the upside. Key …
Market StructureThe market is currently ranging after a corrective decline. Price is attempting to establish a higher low, but confirmation of a trend reversal requires a break above recent swing highs. Key ResistanceFirst Resistance: 64,500–64,800This is the first supply zone where recent rallies have struggled to continue. Second Resistance: 65,500–66,000A decisive breakout above this region would strengthen bullish momentum and shift the medium-term outlook to the upside. Key SupportFirst Support: 63,500–63,700This area continues to attract buyers and remains the first key support. Second Support: 62,600–62,900If sellers regain control, this demand zone could become the next downside objective. Market SentimentMarket sentiment is cautiously neutral. The recent stabilization suggests selling momentum is fading, but the market remains trapped inside a consolidation range. A breakout above resistance would improve confidence, while a loss of support could quickly shift momentum back to the downside. Please share your view below:Will Bitcoin break above resistance and resume its recovery? Or will sellers defend the range and trigger another decline?More market structure and key level updates will be shared regularly. DisclaimerThe 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 theTerms of Use.