Bitcoin Update
Over the past 14 days, the price has struggled to break out at the 87K resistance, tried 3 times but failing to hold. Each time a rejection occurred, it fell back to the 84K support. It may attempt again today or tomorrow. If it succeeds in breaking through, the next $BTC target would be the 88K to 90K zone, where we have resistance at MA99 (89,835). If it gets rejected here, a dump towards 84K to 82K is highly possible.
Once 82K is lost, it means the bears are taking charge. If heavy selling pressure leads to losing 79K, it means the bears will lead the market, and a big fall may happen towards 72K or 64K.
I am very bearish, and there are few chances for the bulls to take over the market. I would not suggest taking a short position now; just watch the current resistance and MA99 resistance to see how the price reacts in this zone. Only enter once a bearish candle forms and gives confirmation.
Over the past 14 days, the price has struggled to break out at the 87K resistance, tried 3 times but failing to hold. Each time a rejection occurred, it fell back to the 84K support. It may attempt again today or tomorrow. If it succeeds in breaking through, the next $BTC target would be the 88K to 90K zone, where we have resistance at MA99 (89,835). If it gets rejected here, a dump towards 84K to 82K is highly possible.
Once 82K is lost, it means the bears are taking charge. If heavy selling pressure leads to losing 79K, it means the bears will lead the market, and a big fall may happen towards 72K or 64K.
I am very bearish, and there are few chances for the bulls to take over the market. I would not suggest taking a short position now; just watch the current resistance and MA99 resistance to see how the price reacts in this zone. Only enter once a bearish candle forms and gives confirmation.
