Price Z-Score 200d #Bitcoin reaches overbought🔴 territory
The ongoing trend reversal was confirmed by the pattern that developed as it broke through neutral zone and reached the red line.
Now, the expectation is that #BTC price will enter a pullback to confirm the old resistance zone as definitive new support to sustain structural shift.
The price projection for correction is within the channel between $78k (control point) - $71k (base of support channel — former resistance).
As a result, the indicator tends to maintain a neutral value (0.00) as a floor. #BTC Price Analysis# #Macro Insights# #TechnicalAnalysis $BTC
The ongoing trend reversal was confirmed by the pattern that developed as it broke through neutral zone and reached the red line.
Now, the expectation is that #BTC price will enter a pullback to confirm the old resistance zone as definitive new support to sustain structural shift.
The price projection for correction is within the channel between $78k (control point) - $71k (base of support channel — former resistance).
As a result, the indicator tends to maintain a neutral value (0.00) as a floor. #BTC Price Analysis# #Macro Insights# #TechnicalAnalysis $BTC
