๐ Current Reading
* Price: 85,389 $BTC
* Bollinger Upper: 85,265
* Middle: 84,918
* Lower: 84,571
* Williams %R: -4.4 โ strong bullish overbought.
* Last move: gradual rise from the 84,700โ84,800 zone to 85,390.
* The price is now above the Bollinger Upper band, and this is an important point.
๐ข Bullish Scenario
If the hourly candles hold above 85,250โ85,300 with a clear increase in volume:
85,700 โ 86,550 โ 87,200
And the most important nearby resistance is around 85,700. Breaking above it and holding gives a chance to continue the rise toward 86.5K, then 87.2K.
๐ด Bearish Scenario / Correction
Because of overbought conditions and the price being above Bollinger Upper, I donโt recommend chasing a buy at 85,390.
If the price fails to hold above 85,250:
85,000 โ 84,918 โ 84,570
And 84,918 is very important because itโs the Bollinger middle band. A break with an hourly close may bring the price back to 84,570, then roughly 84,100.
๐ฏ Summary
Trend: ๐ข short-term bullish
Momentum: ๐ข good
Overbought: ๐ด very high
Volume: โ ๏ธ not strong enough to confirm a strong breakout
So I see 85,250โ85,300 as the decision zone:
* Holding above it = probability of 85,700 then 86,550.
* Rejection from 85.4โ85.7 = probability of a pullback to 84,918.
* Break of 84,918 = caution for a deeper drop$BTC
* Price: 85,389 $BTC
* Bollinger Upper: 85,265
* Middle: 84,918
* Lower: 84,571
* Williams %R: -4.4 โ strong bullish overbought.
* Last move: gradual rise from the 84,700โ84,800 zone to 85,390.
* The price is now above the Bollinger Upper band, and this is an important point.
๐ข Bullish Scenario
If the hourly candles hold above 85,250โ85,300 with a clear increase in volume:
85,700 โ 86,550 โ 87,200
And the most important nearby resistance is around 85,700. Breaking above it and holding gives a chance to continue the rise toward 86.5K, then 87.2K.
๐ด Bearish Scenario / Correction
Because of overbought conditions and the price being above Bollinger Upper, I donโt recommend chasing a buy at 85,390.
If the price fails to hold above 85,250:
85,000 โ 84,918 โ 84,570
And 84,918 is very important because itโs the Bollinger middle band. A break with an hourly close may bring the price back to 84,570, then roughly 84,100.
๐ฏ Summary
Trend: ๐ข short-term bullish
Momentum: ๐ข good
Overbought: ๐ด very high
Volume: โ ๏ธ not strong enough to confirm a strong breakout
So I see 85,250โ85,300 as the decision zone:
* Holding above it = probability of 85,700 then 86,550.
* Rejection from 85.4โ85.7 = probability of a pullback to 84,918.
* Break of 84,918 = caution for a deeper drop$BTC