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Price Action 📈 — Monday Technical Analysis

If you have been following my analysis on $BTC, then longing and shorting shouldn’t really be a problem for you, because the analysis I’ve shared over the past few weeks has been playing out well.

Now, let’s remember the levels we talked about concerning .

First was the $79k zone. I clearly mentioned that if the market breaks below that support zone and retests it, then the next major level to watch would be the $75k–$76k zone, which the market already reacted to after pushing down into that area.

So now that the market has played out almost exactly as discussed, what should we be looking out for next?

Here you go 👇

Unless $BTC breaks back above the $79k zone, we could still see more bearish movement towards the $74k region again.

Current market price: $77k

====> $79k acting as the approaching resistance zone.

====> $74k acting as the weak support zone.

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— Kayode Ol

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Price Action 📈 — Monday Technical Analysis

$BTC has finally broken below the $79k support zone.

We are about to have an interesting week ahead, as BTC has now broken the $79k support and is currently using it as a new resistance zone.

What am I looking at?

I’m currently looking at a bearish move towards the $75,700 region, which is the next major support zone. This means we could see continued bearish pressure towards that price area.

===> $78k–$79k now acting as the new resistance zone
===> $75k–$76k as the next support zone the market could approach

Once the market gets to these levels, we’ll then have a clearer idea of the next possible move.

If you found this weekly analysis helpful, make sure to like and share 🤝

— Kayode Ola

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