On October 10 of last year, it was a very terrifying day in the market. Will this terror happen again? Look at the picture—it was a very terrifying day.
The trend is sharply bearish with a strong correction of 19.97% after the rise.
The previous level was toward the 1.401 peak.
Current support: the price is currently trading at 0.5267, which
is exactly at the Supertrend support line (at 0.5268).
Volume: a noticeable decline in trading volumes compared to the rise, reflecting the current weakness in momentum.
Technical view: a break below the 0.526 level and holding under it opens the door to continued downside, while staying above it may cause a temporary upward corrective rebound. $BR
Based on the attached chart for the BTC/USDT pair on the 8-hour timeframe (8h), it shows a strong uptrend and a promising breakout above the previous high at 81,500.0.
Current readings: Current price: 81,148.1 USDT Breakout / nearby support level: 78,230.6 USDT Supertrend level (main support): 76,793.2 USDT
Expected technical targets: First target (testing and breaking the nearby high): 81,500 - 82,460 USDT (break the previous high and confirm momentum). Second target (1.272 Fibonacci extension): 84,800 USDT Third target (1.618 Fibonacci extension): 86,900 - 87,500 USDT
Protection and support levels: Stop-Loss / profit protection: A break and close below 78,200 USDT cancels the short-term bullishness. Main support: The Supertrend line at 76,793 USDT. $BTC