đ„ Bitcoinâs failed $81,000 breakout just put $75,000 back on the table â Bitcoin's failed breakout and slide toward $75K is the immediate price-action story traders are watching right now.
Bitcoin has started the same game weâve seen before. It tried to break out above $81,000, but was immediately rejected there, and now the price has fallen back to around $77,950. This failed breakout is important because it brings the $75,000 level back into the discussion. In the last 24 hours, itâs down -1.2%, but the weekly trend is still slightly green.
Now letâs look at the technical picture. The price is currently at $77,971, right above the pivot point at $77,929. The first support level is $77,741, and if that breaks, thereâs strong support at $76,888, marked on the chart. Resistance sits at $78,052, and above that thereâs a major wall at $81,478. The RSI is at 47, meaning the market is neither overbought nor oversoldâitâs just in the middle. The MACD has issued a bearish crossover, showing pressure in the short term. Volume is quite lowâbelow averageâso this move doesnât look very convincing.
My personal view is that the $77,700 support is quite important. If it holds, Bitcoin could retest $78,000 again. But if it breaks, the psychological $75,000 level could return to the spotlight. The MACD is bearish, price is below the EMA20, so momentum isnât in buyersâ favor right now. Personally, Iâll wait for the next move to confirm, because fakeouts are pretty common when volume is low.
What do you think, bro? Will $77,700 support hold, or will we see a drop toward $75,000? Let me know in the comments.
Disclaimer: This is only my analysis, not financial advice. Risk is always present in the market.
#Trading #Binance #Bitcoin #Crypto #MarketAnalysis
What's your read on this â bullish or bearish?
Bitcoin has started the same game weâve seen before. It tried to break out above $81,000, but was immediately rejected there, and now the price has fallen back to around $77,950. This failed breakout is important because it brings the $75,000 level back into the discussion. In the last 24 hours, itâs down -1.2%, but the weekly trend is still slightly green.
Now letâs look at the technical picture. The price is currently at $77,971, right above the pivot point at $77,929. The first support level is $77,741, and if that breaks, thereâs strong support at $76,888, marked on the chart. Resistance sits at $78,052, and above that thereâs a major wall at $81,478. The RSI is at 47, meaning the market is neither overbought nor oversoldâitâs just in the middle. The MACD has issued a bearish crossover, showing pressure in the short term. Volume is quite lowâbelow averageâso this move doesnât look very convincing.
My personal view is that the $77,700 support is quite important. If it holds, Bitcoin could retest $78,000 again. But if it breaks, the psychological $75,000 level could return to the spotlight. The MACD is bearish, price is below the EMA20, so momentum isnât in buyersâ favor right now. Personally, Iâll wait for the next move to confirm, because fakeouts are pretty common when volume is low.
What do you think, bro? Will $77,700 support hold, or will we see a drop toward $75,000? Let me know in the comments.
Disclaimer: This is only my analysis, not financial advice. Risk is always present in the market.
#Trading #Binance #Bitcoin #Crypto #MarketAnalysis
What's your read on this â bullish or bearish?
