10.8 BTC is in a consolidation phase; continue to sell into intraday rebounds
🔥$BTC Range review | Holiday trading remained range-bound between 83000 and 87000, in line with our earlier forecast
83000 is both a key support level and the 60-day moving average. It has been tested repeatedly, with weak buying pressure. Repeated tests without a break make a leveraged shakeout increasingly likely.
Market scenario: rebound meets resistance → sell-off triggers a shakeout → after leverage is flushed out, price makes another run at 90000.
Short-term resistance: 84200–84500; support: 83000. Don’t chase shorts in the support zone; look for a modest rebound first during the day.
Extreme scenario: If 83000 fails to hold, the correction could deepen, with a worst-case dip to 75000. Once leverage has been fully flushed out, a strong rebound could follow.
🔥$BTC Range review | Holiday trading remained range-bound between 83000 and 87000, in line with our earlier forecast
83000 is both a key support level and the 60-day moving average. It has been tested repeatedly, with weak buying pressure. Repeated tests without a break make a leveraged shakeout increasingly likely.
Market scenario: rebound meets resistance → sell-off triggers a shakeout → after leverage is flushed out, price makes another run at 90000.
Short-term resistance: 84200–84500; support: 83000. Don’t chase shorts in the support zone; look for a modest rebound first during the day.
Extreme scenario: If 83000 fails to hold, the correction could deepen, with a worst-case dip to 75000. Once leverage has been fully flushed out, a strong rebound could follow.