From TradingView · · 40s
BTCUSDT Bounce Faces Resistance
Bitcoin's rebound hits resistance zone as bearish structure persists.
In brief
Bitcoin's rebound hits resistance zone as bearish structure persists. Bitcoin's recent bounce is failing to break resistance levels in a bearish market structure. Originally reported by TradingView.
Bitcoin rebound
Bitcoin's rebound looks strong at first glance but the location matters more than the move itself.
Resistance zone
Price has returned directly into a resistance zone while the broader structure continues to produce lower highs.
Previous rallies
Previous rallies into the descending trendline have also attracted sellers.
Current recovery
The current recovery is approaching the same type of pressure area as previous rallies.
What happens next
If BTC fails to reclaim resistance, attention shifts back toward 80,110.
The short version
Bitcoin's recent bounce is failing to break resistance levels in a bearish market structure.
