BTC Chart Indicates Three Significant Rejections and a Strong Signal for 6% Support

Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 5 hour ago
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  • Market Rejections: The chart indicates three significant rejections near the 9 percent resistance zone, forming a strong pattern for traders and suggesting a potential downward movement after the third rejection.

  • Rising Support Trend: A rising support trend near the 6 percent region provides a clear pathway for price movement, with the market showing consistent rebounds after touching this support area.

  • Reversal Patterns: The structure of the chart reveals predictable turning points, with repeated reversals at the upper trend line, allowing traders to anticipate future market movements.

  • Defined Trading Range: The chart establishes a defined range between the 6 percent support zone and the 9 percent rejection zone, creating a rhythm for traders to track price actions within the channel.

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About the author

Ohris M. Greyoon
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Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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