$BTC
Bitcoin Analysis
The market has experienced a significant structural collapse, resulting in the invalidation of previous support zones and confirming the dominance of active sellers.
Structure: After the price failed to hold higher levels, it plummeted sharply. The bearish Change of Character (CHoCH), followed by a decisive Break of Structure (BOS), has completely altered the order flow. The previous support level at $76,000 could not hold.
Current Movement: The price is diving aggressively downwards, marking a new weak low at $75,100. It is currently facing pressure at the lowest point of this upward wave, indicating a strong bearish trend.
Resistance Zones: The main pressure zones have flipped to supply zones. The immediate key resistance is in the range of $76,600 - $77,000, while a strong major high has been recorded near $78,000.
Outlook: Bearish. The momentum is in the hands of the sellers. Trading this bearish trend by opening early long positions is a significant risk. The priority is to wait for a technical bounce towards the newly formed upper supply zones to look for short opportunities, or to wait for a confirmed accumulation structure to form near the new lows.
Bitcoin Analysis
The market has experienced a significant structural collapse, resulting in the invalidation of previous support zones and confirming the dominance of active sellers.
Structure: After the price failed to hold higher levels, it plummeted sharply. The bearish Change of Character (CHoCH), followed by a decisive Break of Structure (BOS), has completely altered the order flow. The previous support level at $76,000 could not hold.
Current Movement: The price is diving aggressively downwards, marking a new weak low at $75,100. It is currently facing pressure at the lowest point of this upward wave, indicating a strong bearish trend.
Resistance Zones: The main pressure zones have flipped to supply zones. The immediate key resistance is in the range of $76,600 - $77,000, while a strong major high has been recorded near $78,000.
Outlook: Bearish. The momentum is in the hands of the sellers. Trading this bearish trend by opening early long positions is a significant risk. The priority is to wait for a technical bounce towards the newly formed upper supply zones to look for short opportunities, or to wait for a confirmed accumulation structure to form near the new lows.