Bitcoin’s V-Shaped Reversal Signals Bulls Are Back in Control

In today’s technical analysis, let’s take a closer look at Bitcoin. Over the weekend, the price dropped sharply amid intensifying fears of war escalation between Israel, Iran, and potentially the U.S. However, as the trading day opened on Monday, Bitcoin staged an impressive comeback, aiming to erase nearly all of those losses.

Technically, the price touched a key horizontal level — the high from early May — marked with a black line, now acting as a crucial support just below $100,000. This precise bounce reinforces the strength of that level.

What we’re witnessing now is a textbook V-shaped reversal, with price action reclaiming ground above two important technical supports: a red dynamic uptrend line and a blue horizontal support. The earlier drop below those levels now looks to have been a false breakout, marked in orange, which has only strengthened the case for a bullish rebound.

As long as Bitcoin remains above these three supports — the black, red, and blue lines — the sentiment stays positive, and the potential for further gains remains intact.

Source: https://www.axiory.com/analytics/technical-analysis/bitcoin-s-v-shaped-reversal-signals-bulls-are-back