MrKTechnicalLevels

#BTCUSD Analysis: Key Resistance Levels and Potential Reversal Z

BITSTAMP:BTCUSD   Bitcoin
The current price of BTCUSD is encountering resistance at the H6 supply area and facing rejection from this zone. Additionally, it coincides with the Fibonacci 0.50% level, which is a critical area for potential trend reversal. Above this, the Fibonacci 0.61% level is around 66000-67000, which also poses resistance. These two areas could potentially push the price back to the range of 59500-57000. If the price fails to hold the 56500 level, the next support level is approximately 51500. Our recommendation is to consider buying only after the price breaks above both resistance areas, i.e., above 67000, with a target of 71000. Once the hurdle at 72-73000 is breached, BTCUSD has the potential to move upward without limits, reaching up to 82000.

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