Bitcoin’s price has recently broken below a key trendline support despite a generally positive fundamental backdrop and an ongoing bullish longer-term trend. This suggests that the market may currently be undergoing a counter-trend correction phase.
One contributing factor to this short-term weakness appears to be the decline in U.S. interest rates, which has unexpectedly had a negative impact on the cryptocurrency market as a whole.
From a technical perspective, I have identified several important levels:
A breakout and confirmed close above this level could signal renewed bullish momentum and potentially trigger a positive market reaction. and there target will be 113K to 118K
You may find more details in the chart.
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Supporting.
One contributing factor to this short-term weakness appears to be the decline in U.S. interest rates, which has unexpectedly had a negative impact on the cryptocurrency market as a whole.
From a technical perspective, I have identified several important levels:
A breakout and confirmed close above this level could signal renewed bullish momentum and potentially trigger a positive market reaction. and there target will be 113K to 118K
You may find more details in the chart.
Trade wisely best of Luck.
Ps; Support with like and comments for better analysis Thanks for Supporting.
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Join My telegram Channel
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
t.me/AnalysisGold2
Free Forex Signals
t.me/Jamessignals11
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.