Good morning, fellow traders!
BTC is currently around $81,611 (reference: 10/20 10:42). 4H momentum is starting to recover, but the daily chart remains weak. For now, I’m treating this move as a rebound within a downtrend—not yet a confirmed trend reversal to the upside.
📈 Resistance: $81,900–82,250
A breakout and sustained hold above this range could open the way to test $82,600–83,160.
📉 Support: $80,800–80,000
If this range breaks and price fails to reclaim it, watch $79,700 next.
Bullish condition: Hold above $82,250 on the 4H chart. A drop back below $81,900 would invalidate the breakout.
Bearish condition: Break below $80,800 and fail to reclaim it. A sustained move back above $81,900 would mean the bearish outlook needs to be revised.
For now, I’d rather wait for the market to confirm a direction than chase a short-term rebound. There’s no shortage of opportunities—the challenge is finding an entry worth taking the risk for.
⚠️ This post is for market analysis and discussion only and does not constitute investment advice. Trading involves risk; please make your own decisions.
#BTC #Bitcoin #BTCUSDT #TechnicalAnalysis #WizardPenguin
BTC is currently around $81,611 (reference: 10/20 10:42). 4H momentum is starting to recover, but the daily chart remains weak. For now, I’m treating this move as a rebound within a downtrend—not yet a confirmed trend reversal to the upside.
📈 Resistance: $81,900–82,250
A breakout and sustained hold above this range could open the way to test $82,600–83,160.
📉 Support: $80,800–80,000
If this range breaks and price fails to reclaim it, watch $79,700 next.
Bullish condition: Hold above $82,250 on the 4H chart. A drop back below $81,900 would invalidate the breakout.
Bearish condition: Break below $80,800 and fail to reclaim it. A sustained move back above $81,900 would mean the bearish outlook needs to be revised.
For now, I’d rather wait for the market to confirm a direction than chase a short-term rebound. There’s no shortage of opportunities—the challenge is finding an entry worth taking the risk for.
⚠️ This post is for market analysis and discussion only and does not constitute investment advice. Trading involves risk; please make your own decisions.
#BTC #Bitcoin #BTCUSDT #TechnicalAnalysis #WizardPenguin