Yesterday at 2 a.m., price met resistance and pulled back. The daily chart is bearish, and the 3-day line has formed a death cross. There’s no sign of a bottom yet, so consider small-position short-term longs, with trailing take-profit and stop-loss levels.
BTC’s first Fibonacci level at 82600 has been broken. If 82000 gives way, prepare to enter a low-position long at the second Fibonacci level: 87385−(87385−74909)*0.5=81147. The weekly EMA6 (81385) is a support level, and the 2-day Bollinger middle band is also near 81385. These two indicators provide confluence, so consider playing for a rebound in the 81400–81150 range. Take-profit level here is TBD. If 81000 holds, it’s a bottom-fishing point; if it breaks, the downside adjustment could extend to 79666.
BTC’s first Fibonacci level at 82600 has been broken. If 82000 gives way, prepare to enter a low-position long at the second Fibonacci level: 87385−(87385−74909)*0.5=81147. The weekly EMA6 (81385) is a support level, and the 2-day Bollinger middle band is also near 81385. These two indicators provide confluence, so consider playing for a rebound in the 81400–81150 range. Take-profit level here is TBD. If 81000 holds, it’s a bottom-fishing point; if it breaks, the downside adjustment could extend to 79666.