【 $BTC Capped by 87268 for Two Consecutive Months! Why Can’t It Break Through in the Early Bull Market?】
Bitcoin’s price action over the past couple of days has been testing our patience. After briefly dipping below 80,000 and recovering, it ran into resistance near 85,000 and has continued to move sideways within a narrow range.
On the weekly chart, we have a moderately bearish candle down 3%, erasing the previous small bullish candle. However, it also has a long lower wick, suggesting that gains may be hard to come by this week, while buyers are stepping in to support the price on dips. A smooth decline is unlikely either, so the most likely scenario is continued weak, range-bound trading.
On the daily chart, the price is currently meeting resistance near 85,000 at the breakdown trendline we’ve been watching closely. Whether it can reclaim and hold this level will determine what happens next. If it gets back above and holds, it could revisit the previous high or even set a new one. If it continues to fail to break through, the market will weaken and move lower.
Looking at the monthly Bollinger Bands, the price has been capped by the middle band at 87268 for two consecutive months. As the dividing line between strength and weakness in the broader trend, this level won’t be easy to break decisively. It will take repeated attempts and sustained accumulation of trading volume—which is exactly why we characterize this as the early stage of a bull market!
Overall, resistance near 85000 remains significant for now, and the most likely scenario is a rejection followed by a move down to look for support.
That said, the downside may be limited. First, watch 82100, followed by the Fibonacci 0.236 level at 80400. This level has already held during a previous decline, so near-term support looks fairly solid.【❤️As shown in Figure 1】
For now, it’s best to watch more and trade less. The price action ahead may be more complex than expected, so it’s safer to wait until the direction becomes relatively clear before making a decision!
Trading plan: I’ve now fully replenished my Binance community spot position near the lows, around 82000. I’m currently heavily invested in spot, so I’ll simply hold.【❤️As shown in Figure 2】
#BTC走势分析 $SOL #eth
Bitcoin’s price action over the past couple of days has been testing our patience. After briefly dipping below 80,000 and recovering, it ran into resistance near 85,000 and has continued to move sideways within a narrow range.
On the weekly chart, we have a moderately bearish candle down 3%, erasing the previous small bullish candle. However, it also has a long lower wick, suggesting that gains may be hard to come by this week, while buyers are stepping in to support the price on dips. A smooth decline is unlikely either, so the most likely scenario is continued weak, range-bound trading.
On the daily chart, the price is currently meeting resistance near 85,000 at the breakdown trendline we’ve been watching closely. Whether it can reclaim and hold this level will determine what happens next. If it gets back above and holds, it could revisit the previous high or even set a new one. If it continues to fail to break through, the market will weaken and move lower.
Looking at the monthly Bollinger Bands, the price has been capped by the middle band at 87268 for two consecutive months. As the dividing line between strength and weakness in the broader trend, this level won’t be easy to break decisively. It will take repeated attempts and sustained accumulation of trading volume—which is exactly why we characterize this as the early stage of a bull market!
Overall, resistance near 85000 remains significant for now, and the most likely scenario is a rejection followed by a move down to look for support.
That said, the downside may be limited. First, watch 82100, followed by the Fibonacci 0.236 level at 80400. This level has already held during a previous decline, so near-term support looks fairly solid.【❤️As shown in Figure 1】
For now, it’s best to watch more and trade less. The price action ahead may be more complex than expected, so it’s safer to wait until the direction becomes relatively clear before making a decision!
Trading plan: I’ve now fully replenished my Binance community spot position near the lows, around 82000. I’m currently heavily invested in spot, so I’ll simply hold.【❤️As shown in Figure 2】
#BTC走势分析 $SOL #eth