BTC/USDT – Testing Bearish Channel Resistance, Key Reversal Zone
Hello Everyone,
On the BTC/USDT (12H timeframe), price action remains inside a bearish descending channel, where lower highs and lower lows have dominated since mid-summer. Despite this broader bearish structure, Bitcoin has recently shown a strong rally from the support zone near 107,400, climbing back toward the upper boundary of the channel.
At the moment, BTC is testing the resistance zone around 118,000, which aligns with the channel’s upper trendline. This level is critical, as it could decide whether Bitcoin extends its short-term recovery or resumes its bearish momentum.
Structure: Bearish channel still intact.
Strong bounce from the 107,400 support level.
Current resistance lies at 118,000 – 118,500, overlapping with the channel top.
Potential rejection could trigger another move lower toward 112,777 and possibly 107,400.
Breakout above the channel resistance may shift sentiment to bullish, but confirmation is required.
Bearish Scenario: If rejection occurs at the channel top, BTC may retrace back toward 112,777 first, with the possibility of retesting 107,400 as a deeper support.
Bullish Scenario: A clean breakout and close above 118,500 could invalidate the bearish channel, opening the path for higher targets.
On the BTC/USDT (12H timeframe), price action remains inside a bearish descending channel, where lower highs and lower lows have dominated since mid-summer. Despite this broader bearish structure, Bitcoin has recently shown a strong rally from the support zone near 107,400, climbing back toward the upper boundary of the channel.
At the moment, BTC is testing the resistance zone around 118,000, which aligns with the channel’s upper trendline. This level is critical, as it could decide whether Bitcoin extends its short-term recovery or resumes its bearish momentum.
Structure: Bearish channel still intact.
Strong bounce from the 107,400 support level.
Current resistance lies at 118,000 – 118,500, overlapping with the channel top.
Potential rejection could trigger another move lower toward 112,777 and possibly 107,400.
Breakout above the channel resistance may shift sentiment to bullish, but confirmation is required.
Bearish Scenario: If rejection occurs at the channel top, BTC may retrace back toward 112,777 first, with the possibility of retesting 107,400 as a deeper support.
Bullish Scenario: A clean breakout and close above 118,500 could invalidate the bearish channel, opening the path for higher targets.
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Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.