【 Repeated resistance at 87,000: Is Bitcoin’s first-stage rally nearing its end? Watch this range next 】
Bitcoin has tested the resistance near 87,000 several times but has yet to break through decisively. After news that a U.S. government address transferred out 833.6 BTC ($71.56 million) and that the funds had reached Coinbase, the market began to turn lower. Price failed to perform during the window period, which is a bit of a shame!
Bitcoin has now fallen below the smaller 4-hour ascending channel and found support at 83,500, but for now it remains uncertain whether it can stop falling here.
On the daily chart, the price has broken below the lower support of the wedge. If it cannot reclaim that level by the daily close, we’ll need to return to our previous view that it could retest the 82,200–81,000 area.
Looking at the MACD, the bullish crossover has failed and the fast line is starting to diverge downward, indicating weak momentum. Indicators across multiple timeframes are also showing a bearish crossover, so there’s still a high probability that the daily support level will fail. Fortunately, the strong support zone below isn’t far away, so patience is all that’s needed.
The first-stage rally is nearing its end, and complex, volatile price action is likely to be the norm from here. Don’t chase rallies or panic-sell—be sure to keep this in mind!
Position advice: Hold your existing spot position for now. Community exposure is currently at 50–70%. If the price reaches around 82,000, those with a 50% position can consider adding some back. The broader trend still has a strong chance of taking Bitcoin back to the 87,000–91,000 range.
#BTC走势分析 $ETH #币安推出BinanceIntelligence $SOL
Bitcoin has tested the resistance near 87,000 several times but has yet to break through decisively. After news that a U.S. government address transferred out 833.6 BTC ($71.56 million) and that the funds had reached Coinbase, the market began to turn lower. Price failed to perform during the window period, which is a bit of a shame!
Bitcoin has now fallen below the smaller 4-hour ascending channel and found support at 83,500, but for now it remains uncertain whether it can stop falling here.
On the daily chart, the price has broken below the lower support of the wedge. If it cannot reclaim that level by the daily close, we’ll need to return to our previous view that it could retest the 82,200–81,000 area.
Looking at the MACD, the bullish crossover has failed and the fast line is starting to diverge downward, indicating weak momentum. Indicators across multiple timeframes are also showing a bearish crossover, so there’s still a high probability that the daily support level will fail. Fortunately, the strong support zone below isn’t far away, so patience is all that’s needed.
The first-stage rally is nearing its end, and complex, volatile price action is likely to be the norm from here. Don’t chase rallies or panic-sell—be sure to keep this in mind!
Position advice: Hold your existing spot position for now. Community exposure is currently at 50–70%. If the price reaches around 82,000, those with a 50% position can consider adding some back. The broader trend still has a strong chance of taking Bitcoin back to the 87,000–91,000 range.
#BTC走势分析 $ETH #币安推出BinanceIntelligence $SOL
