๐จ BTC is standing before the โdoorwayโ at $82,800 โ will it break through or be pushed back down?
BTC has just returned to the $80,000 level.
But if you only look at the 80K number, you might be missing the most interesting part on the chart. ๐
BTC is currently only a short distance away from the previous high at $82,828.
And this is the zone Iโm especially paying attention to.
๐ Looking at the 1D timeframe:
๐ข Price is above MA7 ~78,830
๐ข Price is above MA25 ~69,307
๐ข Price is above MA99 ~66,116
๐ข The recent up-move came with a strong volume increase
Simply put:
The current structure looks quite good for the bulls.
Butโฆ
โ ๏ธ The $82,800โ83,000 area is not something to ignore.
This is the previous high zone. If BTC moves up there and then gets sold off hard, a full correction move may appear.
๐ So Iโm watching two scenarios:
๐ Scenario 1 โ BREAKOUT
BTC breaks above 82.8K, then holds above this zone with strong buying pressure.
If that happens, it would be a notable signal for the next trend.
๐ Scenario 2 โ REJECTION
BTC touches the 82.8K zone but fails to break through โ turns back and corrects.
In that case, the $78.8Kโ$79K area will be where Iโll watch for the first reaction.
What I donโt want to do right now is FOMO just because I see BTC pumping in green. ๐
A good breakout needs confirmationโnot just touching the old high means you buy.
82.8K will be the real test for BTC.
๐ฅ If it breaks โ the story could be very different.
๐ฅถ If it doesnโt break โ the market may give us a โcooling offโ move.
Fellow guys, will BTC break 82.8K this time or turn around again? ๐
$BTC
#bitcoin #BTC #Crypto #BinaceSquare #trading
BTC has just returned to the $80,000 level.
But if you only look at the 80K number, you might be missing the most interesting part on the chart. ๐
BTC is currently only a short distance away from the previous high at $82,828.
And this is the zone Iโm especially paying attention to.
๐ Looking at the 1D timeframe:
๐ข Price is above MA7 ~78,830
๐ข Price is above MA25 ~69,307
๐ข Price is above MA99 ~66,116
๐ข The recent up-move came with a strong volume increase
Simply put:
The current structure looks quite good for the bulls.
Butโฆ
โ ๏ธ The $82,800โ83,000 area is not something to ignore.
This is the previous high zone. If BTC moves up there and then gets sold off hard, a full correction move may appear.
๐ So Iโm watching two scenarios:
๐ Scenario 1 โ BREAKOUT
BTC breaks above 82.8K, then holds above this zone with strong buying pressure.
If that happens, it would be a notable signal for the next trend.
๐ Scenario 2 โ REJECTION
BTC touches the 82.8K zone but fails to break through โ turns back and corrects.
In that case, the $78.8Kโ$79K area will be where Iโll watch for the first reaction.
What I donโt want to do right now is FOMO just because I see BTC pumping in green. ๐
A good breakout needs confirmationโnot just touching the old high means you buy.
82.8K will be the real test for BTC.
๐ฅ If it breaks โ the story could be very different.
๐ฅถ If it doesnโt break โ the market may give us a โcooling offโ move.
Fellow guys, will BTC break 82.8K this time or turn around again? ๐
$BTC
#bitcoin #BTC #Crypto #BinaceSquare #trading