🍁 Golden Autumn, Big Prizes Await!
Gate Square Growth Points Lucky Draw Carnival Round 1️⃣ 3️⃣ Is Now Live!
🎁 Prize pool over $15,000+, iPhone 17 Pro Max, Gate exclusive Merch and more awaits you!
👉 Draw now: https://www.gate.com/activities/pointprize/?now_period=13&refUid=13129053
💡 How to earn more Growth Points for extra chances?
1️⃣ Go to [Square], tap the icon next to your avatar to enter [Community Center]
2️⃣ Complete daily tasks like posting, commenting, liking, and chatting to rack up points!
🍀 100% win rate — you’ll never walk away empty-handed. Try your luck today!
Details: ht
Understanding Confluence Zones in Crypto Trading
BTCUSDT Analysis: Key Zone to Watch
The market for [Bitcoin] currently shows a neutral trend, with a crucial point of interest around $113,000. This area represents a significant confluence, combining several technical indicators. !()https://img-cdn.gateio.im/webp-social/moments-94b0957073-29a0774a82-153d09-6d2ef1.webp[1] Bitcoin Market Analysis: Confluence Zone at 113,000 USD
Market Structure and Important Levels
The price of Bitcoin shows signs of recovery after a structural break at lower levels. The level of 113,000 $ represents a major supply zone, coinciding with an order block and a previous rejection wick. !()https://img-cdn.gateio.im/webp-social/moments-94b0957073-b97cd18806-153d09-6d2ef1.webp[2] Analysis of Bitcoin price at the key zone of 113,000 $
Possible Trading Scenarios
The market currently presents two main perspectives. In the case of a bearish scenario, the formation of rejection signals could lead to a drop towards the $107,000 to $105,000 zone. Conversely, a bullish scenario would materialize with a clear breakout above $113,000, suggesting a bullish continuation with strong momentum. !()https://img-cdn.gateio.im/webp-social/moments-94b0957073-ca77acc6d9-153d09-6d2ef1.webp[3] BTCUSDT Analysis: Key Zone to Watch
Invalidating Points and Objectives
For the bearish scenario, the targets are around 107,000 $ and 105,000 $. This scenario would be invalidated if the price were to close strongly above the threshold of 113,000 $ on the hourly chart. !()https://img-cdn.gateio.im/webp-social/moments-94b0957073-3cd2bf775f-153d09-6d2ef1.webp[4] BTCUSDT Analysis: Key zone to watch
Importance of Confluence in Analysis
The 113,000 $ zone perfectly illustrates the concept of confluence in trading, bringing together several technical elements that enhance its relevance for traders. Identifying these convergence zones allows for spotting more reliable trading opportunities by aligning various signals and indicators.
Potential Impact on the Cryptocurrency Market
A bullish breakout beyond this confluence zone could not only influence Bitcoin but also trigger a positive movement across the entire market of ()[cryptomonnaies]. Therefore, it is essential for traders to stay alert and adjust their strategy according to the price reaction at this critical level.