Expected Next Move for Bitcoin

Bitcoin has begun to break out of its sideways trend,

which so far has indicated an accumulation phase.

Currently, the cryptocurrency is expected to continue its upward movement,

reaching the upper supply zones near the $104,000 level.

This is considered a very strong selling zone, and we expect to see

some pullback from it towards the average price.

 

Expected Buy Zones

If the price falls and returns to the support zones,

which also act as demand zones, we are expected to see another upward move from these zones.

However, this is contingent on the formation of a reversal pattern to confirm the reversal.

The support zones are located near the $87,852 level.

If the support zones are broken and the price closes below them, we expect to see

a continuation of the decline towards the next demand zones near the $80,884 level.