This is a key level. What do you think?
$BTC is now at 81,576 (-2.63% over 24h), with a 24h range of 81,297–84,352.
My outlook is still bearish. The nearest resistance above is 82,000 (0.5% from the current price). If price can’t hold above it, that’s a spot to short the rebound; if it does, then watch the 83,000 level.
First support below is 81,297 (the 24h low). If price breaks below it decisively and fails to recover, I’d look to the next level around 80,297.
Market breadth: 4/27 advancing (14.8%).
Fear & Greed Index: 57 (Greed).
$BTC funding rate: +0.0063%, with shorts in control.
Summary: bearish. The overall direction is one thing, but the price levels are another. Unless the rebound breaks through key resistance, the bears remain in control.
This is a medium- to long-term view. Short-term price action will inevitably be choppy, so don’t let a day or two of movement change your mind.
Where have you set your stop-loss?
#Binance #BTC #MarketAnalysis
$BTC is now at 81,576 (-2.63% over 24h), with a 24h range of 81,297–84,352.
My outlook is still bearish. The nearest resistance above is 82,000 (0.5% from the current price). If price can’t hold above it, that’s a spot to short the rebound; if it does, then watch the 83,000 level.
First support below is 81,297 (the 24h low). If price breaks below it decisively and fails to recover, I’d look to the next level around 80,297.
Market breadth: 4/27 advancing (14.8%).
Fear & Greed Index: 57 (Greed).
$BTC funding rate: +0.0063%, with shorts in control.
Summary: bearish. The overall direction is one thing, but the price levels are another. Unless the rebound breaks through key resistance, the bears remain in control.
This is a medium- to long-term view. Short-term price action will inevitably be choppy, so don’t let a day or two of movement change your mind.
Where have you set your stop-loss?
#Binance #BTC #MarketAnalysis