Bitcoin — The Range Is Finally Being Put to the Test for COINBASE:BTCUSD by TheZimpact
🚀Bitcoin has been trapped inside a large sideways structure, with price repeatedly bouncing between the upper and lower boundaries. 🏆Previously: https://www. tradingview. com/chart/BTCUSD/IVpVkFA5-Bitcoin-Is-This-Long-Consolidation-About-to-Explode/ Now BTC is back near the bottom of the range around $62. 2K–$62. 6K. This is a critical area because the entire sideways structure is sitting on top of this support. 📈 Bullish scenario If BTC holds the current lower zone and starts reclaiming the …
🚀Bitcoin has been trapped inside a large sideways structure, with price repeatedly bouncing between the upper and lower boundaries. 🏆Previously:Now BTC is back near the bottom of the range around $62. 2K–$62. 6K. This is a critical area because the entire sideways structure is sitting on top of this support. 📈 Bullish scenarioIf BTC holds the current lower zone and starts reclaiming the range, we could see another move toward the $65K area. A breakout above the upper part of the structure and the $66K–$67K resistance zone could open the way toward the major $68K–$69K zone. The previous Golden Zone also remains an important reference if momentum returns to the upside. 📉 Bearish scenarioThis is where the chart gets dangerous. If Bitcoin breaks below the $62. 2K–$62. 6K support zone, the current sideways structure could finally resolve to the downside. The next major zone sits around $57K–$58K, making the current support a very important line in the sand. 🎯 OutlookBitcoin has spent weeks building liquidity inside this range. Now price is sitting right at the bottom of it. Hold the floor → range recovery. Lose the floor → the range could finally break. The next BTC move could be much bigger than the recent sideways action. 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.