Bitcoin's Expected Next Move

Bitcoin has rebounded strongly.

This follows a rebound from daily demand zones and a consolidation operation.

This has driven the currency to a strong rise over the past few days.

Currently, the currency is approaching strong daily supply zones,

 which are considered the only available selling zones.

These are the overlapping supply zones on the 4-hour timeframe.

As shown on the chart, they are located at the 122,835 level.

Currently, we are facing several expected scenarios for the currency.

Expected Scenarios

The first scenario is a rebound from the overlapping supply zones.

And a decline to the specified targets at the 120,700 and 118,000 levels.

This is highly likely if any reversal patterns appear.

The second scenario is a continued rise to new record highs.

This occurs if the supply zones are breached and a full candle closes above them.

This could lead to a continued rise to targets of 127,100, 130,500, and 134,500.

The closing price must be on a 4-hour timeframe at least.

In any case, Bitcoin is facing very important areas, so please be careful.