The price of BTC has found significant resistance at the zone of 74,875.0 (image 25, maximum of 24h). After this rejection, we observe an accelerated technical correction in the 5-minute timeframe (image 25). The price has lost both the MA7 and MA25 with strong bearish candles, breaking the immediate bullish structure.
Key Confluence Zone:
Currently, the price is heading towards a crucial area defined by the confluence of two factors:
MA99 of 5 minutes: Currently located near 74,010.9 (image 25), acting as a long-term dynamic support in this timeframe.
Entry Range of the Feed (Square): Matches the upper limit of the entry zone suggested by other traders in Square (like "BlockchainBaller" in image 21), which is the range of 73,600 - 74,200.
Action Point:
The zone between 73,800 and 74,200 will be decisive in the very short term. A demonstration of support with an increase in buying volume in this range could validate the "long" thesis mentioned in the feed. Conversely, a decisive closing of 5-minute candles below the MA99 would nullify the immediate "scalping" entry and suggest a deeper correction towards 72,000.
#Bitcoin #BTC #TechnicalAnalysis #CryptoNews #BinanceSquare
Key Confluence Zone:
Currently, the price is heading towards a crucial area defined by the confluence of two factors:
MA99 of 5 minutes: Currently located near 74,010.9 (image 25), acting as a long-term dynamic support in this timeframe.
Entry Range of the Feed (Square): Matches the upper limit of the entry zone suggested by other traders in Square (like "BlockchainBaller" in image 21), which is the range of 73,600 - 74,200.
Action Point:
The zone between 73,800 and 74,200 will be decisive in the very short term. A demonstration of support with an increase in buying volume in this range could validate the "long" thesis mentioned in the feed. Conversely, a decisive closing of 5-minute candles below the MA99 would nullify the immediate "scalping" entry and suggest a deeper correction towards 72,000.
#Bitcoin #BTC #TechnicalAnalysis #CryptoNews #BinanceSquare