$BTC Price action shows bullish momentum following a rebound from strong horizontal support levels.
Key Support: Solid buying pressure is established in the $70,000–$72,000 zone, holding lower boundaries steady.
Immediate Resistance: Buyers are testing resistance near $78,000–$80,000, where short liquidations tend to trigger.
Candlestick Structure: Recent 4H candles indicate strong green engulfing bodies with long lower wicks, signalling aggressive dip-buying.
RSI & Indicators: Momentum indicators (RSI) are curling upward, moving out of oversold territory toward neutral-bullish levels.
Breakout Target: Sustained daily closes above immediate resistance could extend the push toward the $84,000 mark.
Risk Warning: A drop back below the local support level risks a retest of lower demand zones around $68,000.
#GoldReboundsNearly5% #USRefinersFaceLoomingCrudeSupplyDrop #BitcoinBestWeekSinceMarch2023
Key Support: Solid buying pressure is established in the $70,000–$72,000 zone, holding lower boundaries steady.
Immediate Resistance: Buyers are testing resistance near $78,000–$80,000, where short liquidations tend to trigger.
Candlestick Structure: Recent 4H candles indicate strong green engulfing bodies with long lower wicks, signalling aggressive dip-buying.
RSI & Indicators: Momentum indicators (RSI) are curling upward, moving out of oversold territory toward neutral-bullish levels.
Breakout Target: Sustained daily closes above immediate resistance could extend the push toward the $84,000 mark.
Risk Warning: A drop back below the local support level risks a retest of lower demand zones around $68,000.
#GoldReboundsNearly5% #USRefinersFaceLoomingCrudeSupplyDrop #BitcoinBestWeekSinceMarch2023
