🟠Technical analysis of Bitcoin (Bitcoin) – Weekly timeframe (W1)
🟠After the latest correction and Bitcoin reaching the $60,000 area, price managed to record a strong rebound after gathering liquidity below the support level and forming a bottom. Currently, price is maintaining an uptrend structure and trading near the $83,000 level.
🟠The most important area price is currently facing is the Order Block (Supply) for the buy/supply side (between $90,000 and $95,000). This is an area that may witness an increase in supply and the appearance of a reaction from sellers.
The scenario being monitored is that price first tests this area, with liquidity being collected above the recent highs; if a price reaction appears, it may enter a corrective phase toward the Fair Value Gap (FVG) at $70,000.
@xchief_ar
🟠After the latest correction and Bitcoin reaching the $60,000 area, price managed to record a strong rebound after gathering liquidity below the support level and forming a bottom. Currently, price is maintaining an uptrend structure and trading near the $83,000 level.
🟠The most important area price is currently facing is the Order Block (Supply) for the buy/supply side (between $90,000 and $95,000). This is an area that may witness an increase in supply and the appearance of a reaction from sellers.
The scenario being monitored is that price first tests this area, with liquidity being collected above the recent highs; if a price reaction appears, it may enter a corrective phase toward the Fair Value Gap (FVG) at $70,000.
@xchief_ar
