$BTC / USDT: Range over $80,000 and pause on the way up 🚀
Bitcoin remains trading above the psychological level of $80,000, achieving short-term consolidation on the 5-minute chart after attempting to gain momentum near $80,860.
Structure and key levels:
Main Resistance (Red Line): $80,860.31. Most recent peak and key barrier where selling halted the last breakout attempt.
Previous Day Key Support (Upper Yellow Line): $79,324.64. Key reference level that now acts as the main support floor to maintain bullish strength.
Protective Support (Green Line): $78,906.23. Secondary floor zone in case of deeper pullbacks.
Structural Base (Lower Yellow Line): $77,616.51. Minimum of the previous range on higher timeframes.
What is the price doing now?
On the 5-minute timeframe, the price has pulled back from the high zone of $80,860 and is currently testing the white line (50-period average) near $80,103.
The movement indicates a short-term pause as it accumulates volume above $80,000.
Do you think Bitcoin will manage to consolidate above $80,000 to break $80,860, or will we see a pullback to find support at the yellow line of $79,324?
Bitcoin remains trading above the psychological level of $80,000, achieving short-term consolidation on the 5-minute chart after attempting to gain momentum near $80,860.
Structure and key levels:
Main Resistance (Red Line): $80,860.31. Most recent peak and key barrier where selling halted the last breakout attempt.
Previous Day Key Support (Upper Yellow Line): $79,324.64. Key reference level that now acts as the main support floor to maintain bullish strength.
Protective Support (Green Line): $78,906.23. Secondary floor zone in case of deeper pullbacks.
Structural Base (Lower Yellow Line): $77,616.51. Minimum of the previous range on higher timeframes.
What is the price doing now?
On the 5-minute timeframe, the price has pulled back from the high zone of $80,860 and is currently testing the white line (50-period average) near $80,103.
The movement indicates a short-term pause as it accumulates volume above $80,000.
Do you think Bitcoin will manage to consolidate above $80,000 to break $80,860, or will we see a pullback to find support at the yellow line of $79,324?
