Bitcoin News
By Sakamoto Nashi
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Breaking the Lower Trendline Signals Bearish Momentum. The key technical development highlighted in the analysis is Bitcoin’s break below the lower…
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Scenario One: Rally Rejected at $118,000. In the first bearish scenario, Bitcoin stages a brief rally that takes it to the $118,000 zone.
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Scenario Two: Push Toward $119,700 Before Reversal. The second scenario outlines a slightly more extended rally.
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Shared Outcome: A Drop Toward $115,800. Despite their differences in peak levels, both scenarios share a common bottom.
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Market Sentiment and Broader Outlook. The retracement comes amid a volatile backdrop for the crypto market, with sentiment swinging…
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Conclusion: Short-Term Recovery, Long-Term Uncertainty. While Bitcoin may attempt another rally in the coming sessions, technical indicators suggest that…
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After recently hitting a new all-time high, Bitcoin (BTC) has retraced sharply, erasing its rapid gains and sliding back toward last week’s levels.
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Crypto analyst Melikatrader has mapped out two potential scenarios for Bitcoin’s next move. While both begin with a short-term recovery, each ultimately points toward a bearish…
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However, the decisive break beneath that trendline suggests that sellers have begun to overwhelm buyers.
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According to Melikatrader, any near-term bounce should be viewed with caution, as supply zones just above current price levels could quickly attract heavy selling pressure.
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If this rally does occur, Melikatrader expects the upward momentum to be capped at this level, with selling pressure outweighing demand.
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The second scenario outlines a slightly more extended rally. Here, Bitcoin manages to climb past the first supply wall at $118,000 and continues toward the next resistance level…
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This would represent a stronger recovery effort, perhaps fueled by bullish sentiment or short covering.
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Despite their differences in peak levels, both scenarios share a common bottom. After the rallies are rejected, Bitcoin could crash toward the $115,800 level, which has been…
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This level aligns with retracement zones where sellers are likely to push the market lower, regardless of whether BTC’s short-lived rebound halts at $118,000 or extends toward…
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