BIT COIN - Support & Resistance
BIT COIN - Support & Resistance
Key Levels
Support Level: $91,500
This level has proven to be a strong cushion in recent sessions, indicating buyer interest. If Bitcoin tests this area again, we could see a rebound as long positions are reinitiated. A sustained break below $91,500 might trigger further downside, so watching volume and price action near this support will be crucial.
Resistance Level: $106,500
On the upside, $106,500 represents a significant hurdle where selling pressure has historically increased. A break above this resistance could signal a bullish momentum shift, inviting additional buyers and possibly setting the stage for further rallies. However, failure to clear this level might result in a consolidation phase or a pullback.
Key Levels
Support Level: $91,500
This level has proven to be a strong cushion in recent sessions, indicating buyer interest. If Bitcoin tests this area again, we could see a rebound as long positions are reinitiated. A sustained break below $91,500 might trigger further downside, so watching volume and price action near this support will be crucial.
Resistance Level: $106,500
On the upside, $106,500 represents a significant hurdle where selling pressure has historically increased. A break above this resistance could signal a bullish momentum shift, inviting additional buyers and possibly setting the stage for further rallies. However, failure to clear this level might result in a consolidation phase or a pullback.
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