Overbought Weekly Chart: Bitcoin already took that brutal hit down toward $80,200 on October 8, testing right above the green $81,334 support line.
Right now, the app's AI tags show it stuck in an Accumulation Zone and Neutral Consolidation around $82,200. It’s slowly grinding back up, and that red supply line at $85,527 is the exact target for that recovery.
Since that $85.5K resistance zone stopped the rally cold back on October 5, running back up there to get rejected and dump again makes total sense. Basically, the chart is telling the exact same story you are, so just watch that $85.5K mark closely to see if the rejection actually happens!
You can navigate This chart on “SokoData” which is available on the Google Play Store
Right now, the app's AI tags show it stuck in an Accumulation Zone and Neutral Consolidation around $82,200. It’s slowly grinding back up, and that red supply line at $85,527 is the exact target for that recovery.
Since that $85.5K resistance zone stopped the rally cold back on October 5, running back up there to get rejected and dump again makes total sense. Basically, the chart is telling the exact same story you are, so just watch that $85.5K mark closely to see if the rejection actually happens!
You can navigate This chart on “SokoData” which is available on the Google Play Store