An analytical look at Bitcoin's price action #BTC over the next 24–48 hours
Price at the time of analysis: $82,780
Bitcoin is attempting to recover, but so far the move is a bounce within the four-hour downtrend. The key zone for a move higher is 83,000–83,270, and the nearest major support is 82,240.
For the rally to extend, we need a four-hour close above 83,270, followed by a retest of the 83,000–83,270 zone and a one-hour close above it. If that happens, 83,950–84,050 becomes the next area to watch. A four-hour close above 84,050 opens the way toward 84,800–85,000, followed by the previous high near 85,815.
If the price fails to reclaim resistance and closes an hour below 82,240, the bounce weakens, leaving the 81,700–81,850 zone vulnerable to a test. A four-hour close below that zone could send the price back toward 80,350–80,100, an important low area.
As long as the price remains between 82,240 and 83,270, the direction has yet to be decided. The bias for a move higher improves above the upper boundary, while selling pressure picks up again below the lower boundary.
$BTC
#Bitcoin #freesignal #update #Futures_Signals
🐋 Jimi
Price at the time of analysis: $82,780
Bitcoin is attempting to recover, but so far the move is a bounce within the four-hour downtrend. The key zone for a move higher is 83,000–83,270, and the nearest major support is 82,240.
For the rally to extend, we need a four-hour close above 83,270, followed by a retest of the 83,000–83,270 zone and a one-hour close above it. If that happens, 83,950–84,050 becomes the next area to watch. A four-hour close above 84,050 opens the way toward 84,800–85,000, followed by the previous high near 85,815.
If the price fails to reclaim resistance and closes an hour below 82,240, the bounce weakens, leaving the 81,700–81,850 zone vulnerable to a test. A four-hour close below that zone could send the price back toward 80,350–80,100, an important low area.
As long as the price remains between 82,240 and 83,270, the direction has yet to be decided. The bias for a move higher improves above the upper boundary, while selling pressure picks up again below the lower boundary.
$BTC
#Bitcoin #freesignal #update #Futures_Signals
🐋 Jimi