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📊#BTC breaks resistance, what's next? 🧠From a structural perspective, we broke through the resistance near 84500 that was tested many times, so resistance will turn into support, but since we are in the blue resistance zone, we need to be conservative in chasing up here. The next strong resistance is near 86000, and the extreme pressure is near the downward trend line and the blue neckline, which is about 90000-91000. ➡️Since the long structure is established, but it is currently in the blue resistance zone, if we can't continue to attack upward here, then we need to find support at a low point to participate in long transactions, then the support area worthy of our attention is 79545-81500 (unfortunately, it was $359 away from our entry point yesterday). The extreme support area is 69000-73000 (it is difficult to reach here quickly without major negative events). Let's see 👀 🤜If you like my analysis, please like 💖 and share 💬$BTC

Solana extended its sell-off and reached our blue long Target Zone between $117.73 and $40.43. The price then reacted right at the $109.89 support level, indicating that the low of the green wave 2 has been settled. Thus, the next step should involve a strong rally driven by the green wave 3, ultimately pushing SOL well beyond the $295.31 resistance and past its current all-time high. However, our Target Zone remains active, as there is a 40% chance that the price could revisit this range to complete the blue alternative wave (ii) below the $109.89 mark.

As of this moment, Bitcoin (BTC) is showing sharp price action, trying to clear the way toward key resistance levels in March 2025. The potential reversal formation in the one-hour chart with respect to bullish momentum is taking hold based on the Head and Shoulders (H&S) pattern. For now, Bitcoin is seen trading at $84,006.99. It has been moving into a channel defined by resistance at $85,000 while grappling with significant support near $82,000. Breaking this current downtrend could see Bitcoin shooting its targets near the range of $91,000 as it coincides with the support band towards the bull market. He adds that he is particularly interested in the actual formation of the H&S pattern. The chart marks Left Shoulder, Head, Right Shoulder- a reversal signal as seen in technical analysis, this was the Left Shoulder dragging around March 10, after which the price then dropped sharply to create the Head with the price now trying to form the Right Shoulder, indicating completion of this reversal pattern, and thus a possible breakout. The pattern is significant since it indicates that Bitcoin could be consolidating before a major move higher. Other price actions that the chart suggests act critical levels of resistance and support. The downtrend from which Bitcoin has struggled for a break, the blue trendline, is the one that needs to be exceeded if the H&S pattern is to be formed. So, for set completion, closure must occur above the blue line in this case. Presently, Bitcoin is testing the $84,000 mark, a level that has acted both resistance and support over the previous couple of days. A clear break above $85,000 would be the first sign that the price could start moving toward the target of $91,000. Traders carefully monitor this, as near the $91,000 level, the bull market support band can be well considered a decisive indicator of a healthy uptrend. This is also critical to the analysis; that pink line at the 200-day moving average (DMA). It holds the longer-term trend and should be critical as a support or resistance for Bitcoin. The fact that Bitcoin is hovering so near that level indicates that it is kind of at a crossroads, with an above or below move determining new direction for the next major one. If Bitcoin can close above that pink line, it could indicate the beginning of a very strong bullish phase. However, if it can’t seem to break this level and comes back below the 200 DMA, it’s going to be back into more bearish views again. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin ($BTC USD) is trading since the February 28 Low within a Falling Wedge pattern, below the 1D MA50 (blue trend-line) and at the same time supported by the 1W MA50 (red trend-line). Throughout its dominant Bull Cycle pattern, the +2 year Channel Up, it has formed another 6 such Falling Wedges, all below the 1D MA50 and all turned out to be market bottom formations, which paved the way for an immediate bullish break-out. On all occasions, the 1D CCI has been almost as low as on the February Low. The shortest rebound it made before another break below the 1D MA50, was +26.68% and the highest was +106.96%. As a result this gives us a minimum immediate potential Target of $96800 and a maximum of a little more than $150000. Given that the price has touched the bottom of the long-term Channel Up, like the bottom formations of September 06 2024 and September 11 2023, it is quite likely to see the stronger rebound probability taking place. But what do you think would be the case? Is this a classical Falling Wedge bottom break-out formation and if so what may be the Target? Feel free to let us know in the comments section below!

BITCOIN Is this a Falling Wedge bottom formation? Bitcoin (BTCUSD) is trading since the February 28 Low within a Falling Wedge pattern, below the 1D MA50 (blue trend-line) and at the same time supported by the 1W MA50 (red trend-line). Throughout its dominant Bull Cycle pattern, the +2 year Channel Up, it has formed another 6 such Falling Wedges, all below the 1D MA50 and all turned out to be market bottom formations, which paved the way for an immediate bullish break-out. On all occasions, the 1D CCI has been almost as low as on the February Low. The shortest rebound it made before another break below the 1D MA50, was +26.68% and the highest was +106.96%. As a result this gives us a minimum immediate potential Target of $96800 and a maximum of a little more than $150000. Given that the price has touched the bottom of the long-term Channel Up, like the bottom formations of September 06 2024 and September 11 2023, it is quite likely to see the stronger rebound probability taking place.