#BTC Market Analysis 10.6
The daily resistance zone at 86000–90600 continues to cap prices. I first shared this view half a month ago, and price has been rejected each of the four times it tested the zone. I remain convinced that there isn’t much room to move higher.
1) Yesterday, I identified support on the 4-hour chart. Price nearly broke below it, and the 84900 support looks somewhat weak. The support at 84000 below is relatively stronger.
2) As long as price holds above 84000, it could still rise. A break below 84000 could turn the outlook bearish, with 82500 as the next test.
The daily resistance zone at 86000–90600 continues to cap prices. I first shared this view half a month ago, and price has been rejected each of the four times it tested the zone. I remain convinced that there isn’t much room to move higher.
1) Yesterday, I identified support on the 4-hour chart. Price nearly broke below it, and the 84900 support looks somewhat weak. The support at 84000 below is relatively stronger.
2) As long as price holds above 84000, it could still rise. A break below 84000 could turn the outlook bearish, with 82500 as the next test.
