BTCUSD — Watching 81.2k Trend Support for Bullish Reversal
BTCUSD — Watching 81.2k Trend Support for Bullish Reversal
TO REVIEW THE TECHNICAL CHART, CLICK HERE
BTCUSD — Watching 81.2k Trend Support for Bullish Reversal
Bitcoin is currently stalling at the daily VAH from the all-time-high composite profile, suggesting short-term upside momentum is beginning to fade into an important value-area resistance zone.
From here, the preferred scenario is for a corrective pullback to test projected trend support around 81.2k. That area is important because it may provide the next higher-low opportunity if the broader bullish structure is still intact.
Key Setup
The focus is not to chase price at the daily VAH. Instead, the cleaner setup is to wait for a pullback to 81.2k trend support, then monitor for bullish reversal evidence.
Potential reversal signals could include:
Failed breakdown below support
Bullish engulfing / strong reversal candle
Higher-low formation on lower timeframes
Momentum divergence
Reclaim of intraday resistance after testing support
If a bullish reversal pattern develops from the 81.2k region, the upside target is the confluence zone around 99.4k, where the equality objective aligns with the 61.8% Fibonacci retracement/extension level.
Key Levels
Current resistance / stall zone: Daily VAH from ATH composite profile
Preferred pullback support: 81.2k
Bullish trigger: Reversal pattern from 81.2k
Upside objective: 99.4k
Bearish warning level: 74.9k
Deeper corrective target: 67.5k
Bearish Risk
If Bitcoin loses 74.9k, it would suggest the correction is not merely a shallow pullback but part of a deeper corrective sequence. In that case, downside risk would open toward 67.5k, where the next major support/test area comes into focus.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% and 73% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.
Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!