Today the crypto market showed strong momentum again. Bitcoin (BTC) showed its strength by touching the *$84,304* level, which is *+0.61% (+$475)* higher than yesterday.
For the last few days, the market was consolidating between $82,600 and $85,600. As you can see in the candlestick chart above, after several small candles, a big green candle formed today which is a sign of a *Bullish Breakout*. Volume also increased to 3.2K, which means buyers are returning.
*Today's Key Levels:*
- *Support: $82,600* - If the market goes down, it is likely to bounce back from here.
- *Resistance: $85,600* - This is the most important hurdle. If BTC closes above it, the next target will be $86,300.
- *Market Sentiment:* Fear & Greed Index is at 74 (Greed), and BTC Dominance is at 58.3%. BTC is currently trading at *$83,829.00 | +0.61%* and *$83,646.10 -0.05%* on Binance.
*Expert Opinion:*
Currently, BTC is about 33% below its all-time high of $126,208. This is considered a good accumulation zone. For short-term traders, buying above $83,700 is considered safe while stop-loss can be placed below $82,600.
