Bitcoin is sitting right on a key level and traders are watching it closely. Price is around 79400 after a drop of nearly 3 percent today. The 80000 zone has been acting as support for weeks but every bounce has looked weaker than the last. That is not a good sign for bulls.
If candles start closing daily below 80000 then sellers get control and the next real demand zone is far below. The chart shows a big gap down to 40000 but I would not expect a straight fall there. Moves like that usually stop at smaller levels first.
My view is simple. Wait for a daily close before acting. A bounce above 84000 cancels this bearish idea. Manage your risk and never trade on hype.
What do you think, hold or break? 👇
$BTC
If candles start closing daily below 80000 then sellers get control and the next real demand zone is far below. The chart shows a big gap down to 40000 but I would not expect a straight fall there. Moves like that usually stop at smaller levels first.
My view is simple. Wait for a daily close before acting. A bounce above 84000 cancels this bearish idea. Manage your risk and never trade on hype.
What do you think, hold or break? 👇
$BTC