Bitcoin loses 87K dollars… Is the upward momentum over?
Bitcoin fell from a recent peak near $87,000 to below $83,000 today after a strong rally over the past few days.
But the most important question: is this just a normal correction, or has the market started losing its strength?
In my opinion, it’s not enough to see the price rise strongly to conclude that the uptrend is still intact. The market is now facing pressure from rising U.S. bond yields and increasing expectations of tighter monetary policy, which could affect high-risk assets.
The levels I’m watching:
The $83,000 zone: Can the price reclaim it and hold above it?
The $87,000 zone: Will buyers return to test the last high?
For me, the most important thing right now is to monitor price action and trading volume, rather than jumping in out of fear of missing out.
My question to you: do you think a drop in Bitcoin is an opportunity to catch your breath before a new surge, or the start of a deeper correction?
#bitcoin #Binance $BTC
Bitcoin fell from a recent peak near $87,000 to below $83,000 today after a strong rally over the past few days.
But the most important question: is this just a normal correction, or has the market started losing its strength?
In my opinion, it’s not enough to see the price rise strongly to conclude that the uptrend is still intact. The market is now facing pressure from rising U.S. bond yields and increasing expectations of tighter monetary policy, which could affect high-risk assets.
The levels I’m watching:
The $83,000 zone: Can the price reclaim it and hold above it?
The $87,000 zone: Will buyers return to test the last high?
For me, the most important thing right now is to monitor price action and trading volume, rather than jumping in out of fear of missing out.
My question to you: do you think a drop in Bitcoin is an opportunity to catch your breath before a new surge, or the start of a deeper correction?
#bitcoin #Binance $BTC
