$BTC : Should we prepare for a rebound or more downside? 📉🧐
Bitcoin is currently trading at 83,059 USDC (+1.04%), attempting to recover after the sharp correction from its 87,500 peak.
🔹 A quick look at the chart (4-hour):
· Moving averages: The price is still below the EMA 50 (at 83,919), making it a strong resistance level that needs to be broken.
· Bollinger Bands: We’re moving in the lower range, with the next support at 80,657.
My brief take:
The market is at a sensitive level. Holding above 83,000 is good, but there’s no real rally without a close above 84,000. A break below 82,000 means a retest of 80,600.
💡 Tip: Don’t chase the price, and wait for trend confirmation before entering. Risk management comes first! 🛡️
What do you expect? 80K or 85K? 👇
#BTC #bitcoin #BinanceSquare
Bitcoin is currently trading at 83,059 USDC (+1.04%), attempting to recover after the sharp correction from its 87,500 peak.
🔹 A quick look at the chart (4-hour):
· Moving averages: The price is still below the EMA 50 (at 83,919), making it a strong resistance level that needs to be broken.
· Bollinger Bands: We’re moving in the lower range, with the next support at 80,657.
My brief take:
The market is at a sensitive level. Holding above 83,000 is good, but there’s no real rally without a close above 84,000. A break below 82,000 means a retest of 80,600.
💡 Tip: Don’t chase the price, and wait for trend confirmation before entering. Risk management comes first! 🛡️
What do you expect? 80K or 85K? 👇
#BTC #bitcoin #BinanceSquare