BTC rebounds to around 85,000 as expected. Next, are we going up or down?
Yesterday I posted a reminder for everyone that BTC would rebound to around 85,000. Especially during the livestream, I emphasized that if it breaks below 83,400, it would set a new low, then form a 1-hour level bullish divergence at the bottom, and only afterward would it start to rebound. The result matched my prediction exactly. BTC broke below 83,400 yesterday, fell to 82,800, and then began to rebound. Ultimately, it rebounded to 84,900. I also specifically told everyone that 85,000 is a key pivot level: if it can hold above it, it can continue higher; if it can’t, it still needs to drop. And what happened yesterday into today was basically a back-and-forth struggle around 85,000—neither up nor down—matching my expectations pretty closely.
So how will it move today? First, BTC is at 84,900 and still hasn’t managed to break through decisively. But at this level, there are clearly people chasing shorts here, so I believe it won’t just drop straight down. Instead, it should bounce upward again, and most likely it will take out the 84,900 high. For the short-term target, I’ll look at the 85,200–85,500 area for now. As for whether it can continue breaking higher after that, we won’t make a call yet—when the time comes, we’ll review it again. Actually, around 87,300 there’s a parallel top, which has some potential “temptation.” It’s not out of the question that price could come up and test it briefly. We’ll analyze that area later. For today, should we focus on how it performs around 85,200–85,500?
Yesterday I posted a reminder for everyone that BTC would rebound to around 85,000. Especially during the livestream, I emphasized that if it breaks below 83,400, it would set a new low, then form a 1-hour level bullish divergence at the bottom, and only afterward would it start to rebound. The result matched my prediction exactly. BTC broke below 83,400 yesterday, fell to 82,800, and then began to rebound. Ultimately, it rebounded to 84,900. I also specifically told everyone that 85,000 is a key pivot level: if it can hold above it, it can continue higher; if it can’t, it still needs to drop. And what happened yesterday into today was basically a back-and-forth struggle around 85,000—neither up nor down—matching my expectations pretty closely.
So how will it move today? First, BTC is at 84,900 and still hasn’t managed to break through decisively. But at this level, there are clearly people chasing shorts here, so I believe it won’t just drop straight down. Instead, it should bounce upward again, and most likely it will take out the 84,900 high. For the short-term target, I’ll look at the 85,200–85,500 area for now. As for whether it can continue breaking higher after that, we won’t make a call yet—when the time comes, we’ll review it again. Actually, around 87,300 there’s a parallel top, which has some potential “temptation.” It’s not out of the question that price could come up and test it briefly. We’ll analyze that area later. For today, should we focus on how it performs around 85,200–85,500?
