BTC/USD Chart Analysis: Sell Zones & Profit Targets

Wait 5 sec.

BTC/USD Chart Analysis: Sell Zones & Profit TargetsBitcoin / U.S. dollarBITSTAMP:BTCUSDEA_BOT_Trader_00Resistance (Sell Zones) The chart highlights two resistance areas: 1st Entry: around $64,750–64,900 This aligns with the retest area after the breakdown. Sellers could become active here. 2nd Entry: around $65,150–65,350 Stronger resistance. If price reaches this zone, the bearish setup becomes weaker unless rejection occurs Bullish Scenario The bearish idea would likely fail if: Price closes back inside the ascending channel, and Breaks above $65,300–65,400 with strong volume. That would indicate the channel breakdown was a false break. Bearish Scenario (Current Bias) The chart suggests: Bounce into resistance. Rejection near the 1st or 2nd entry. Decline toward: $64,087 then $63,678 possibly $63,294. This is essentially a breakdown → retest → continuation setup. What to Watch A few confirmations would strengthen the bearish case: Lower highs on the 30-minute chart. Increasing selling volume during the rejection. Failure to reclaim $65,000. A decisive break below $64,400, which could accelerate selling toward the first target. Conversely, if buyers push above the resistance zones and hold above them, the bearish setup loses validity.