When news of a U.S.-Iran peace plan broke last night, Bitcoin jumped more than $1,000 in an hour, reaching a high of 83,450.
It gave back more than half the gains not long after, and was hovering around 82,800 in the early Asian session.
The 80,700 level I wrote about yesterday hasn’t been tested again over the past two days. Bitcoin also only briefly moved above the 20-day moving average before falling back.
The daily close was just below the moving average, so the breakout doesn’t count yet.
For the next 1–3 days, keep an eye on two levels.
First, the upside: last night’s high of 83,450, with the 20-day moving average just below it. A close above that level would confirm the rebound is holding.
On the downside, watch around 82,200. The pullback last night and two dips early this morning both found support there.
In the medium term, the focus is still on this range.
The top is 84,300, a level Bitcoin failed to break several times from Monday to Wednesday last week. A move above it could open the door to a retest of the late-September highs.
The bottom is 80,700, which held on three dips around last weekend. If it gives way, Bitcoin may have to retest the 80,000 mark.
A single news headline was enough to push prices higher, showing that market participants are willing to move up, but buyers chasing the rally didn’t follow through.
I’m leaning toward a strong, range-bound market. Today, the first thing to watch is whether 82,200 holds. If it does, a retest of 83,450 becomes more likely.
$BTC
#比特币 #Market Analysis
It gave back more than half the gains not long after, and was hovering around 82,800 in the early Asian session.
The 80,700 level I wrote about yesterday hasn’t been tested again over the past two days. Bitcoin also only briefly moved above the 20-day moving average before falling back.
The daily close was just below the moving average, so the breakout doesn’t count yet.
For the next 1–3 days, keep an eye on two levels.
First, the upside: last night’s high of 83,450, with the 20-day moving average just below it. A close above that level would confirm the rebound is holding.
On the downside, watch around 82,200. The pullback last night and two dips early this morning both found support there.
In the medium term, the focus is still on this range.
The top is 84,300, a level Bitcoin failed to break several times from Monday to Wednesday last week. A move above it could open the door to a retest of the late-September highs.
The bottom is 80,700, which held on three dips around last weekend. If it gives way, Bitcoin may have to retest the 80,000 mark.
A single news headline was enough to push prices higher, showing that market participants are willing to move up, but buyers chasing the rally didn’t follow through.
I’m leaning toward a strong, range-bound market. Today, the first thing to watch is whether 82,200 holds. If it does, a retest of 83,450 becomes more likely.
$BTC
#比特币 #Market Analysis