This morning I wrote a long macro piece discussing the Fed, Wall Street, ETFs, and RWA, as well as why I remain bullish on the crypto market over the long term.
Now let’s zoom in on a shorter time frame and talk about BTC in the short term.
My view: Support around 82,000 has held for now, and I’m leaning toward a rebound next.
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BTC has recently fallen from around 87,000, briefly dipping as low as around 80,400 before quickly recovering.
It then climbed back above 82,000 for several consecutive days and is currently trading around 83,000.
Price action suggests buyers have stepped in below, while short-term bearish momentum has also weakened somewhat.
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Here are the key levels I’m watching next:
82,000–82,600: Short-term support. If it holds, I’ll continue to look for a rebound.
83,500–83,800: First resistance. A breakout would put 84,000–85,000 in view.
85,000: A key level. Holding above it would open the door to a further move toward around 86,000.
If BTC falls back below 82,000 and fails to reclaim it on a bounce, watch out for another test of the previous low around 80,400.
──── ✦ ────
Yesterday I talked about the long-term cycle; today, I’m talking about the short-term one.
I remain bullish on BTC over the long term and am also leaning toward a short-term rebound, but it’s still too early to call this a confirmed reversal.
First, let’s see whether the area around 82,000 continues to hold, then whether BTC can reclaim 85,000.$BTC
Now let’s zoom in on a shorter time frame and talk about BTC in the short term.
My view: Support around 82,000 has held for now, and I’m leaning toward a rebound next.
──── ✦ ────
BTC has recently fallen from around 87,000, briefly dipping as low as around 80,400 before quickly recovering.
It then climbed back above 82,000 for several consecutive days and is currently trading around 83,000.
Price action suggests buyers have stepped in below, while short-term bearish momentum has also weakened somewhat.
──── ✦ ────
Here are the key levels I’m watching next:
82,000–82,600: Short-term support. If it holds, I’ll continue to look for a rebound.
83,500–83,800: First resistance. A breakout would put 84,000–85,000 in view.
85,000: A key level. Holding above it would open the door to a further move toward around 86,000.
If BTC falls back below 82,000 and fails to reclaim it on a bounce, watch out for another test of the previous low around 80,400.
──── ✦ ────
Yesterday I talked about the long-term cycle; today, I’m talking about the short-term one.
I remain bullish on BTC over the long term and am also leaning toward a short-term rebound, but it’s still too early to call this a confirmed reversal.
First, let’s see whether the area around 82,000 continues to hold, then whether BTC can reclaim 85,000.$BTC