Price Z-Score 200d #Bitcoin reaches overbought๐ด 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 โ 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 โ 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
