Bitcoin first plunged to around 75,700 yesterday, then bounced all the way back above 80,000 overnight. It’s now trading at roughly 80,400.
The short-term levels we were watching yesterday, 77,500 and 76,700, were both briefly breached, but the daily close climbed back above the 20-day moving average.
First, watch 81,200 to the upside in the short term—it’s right around last night’s high.
To the downside, watch 79,900, near the early-morning retest.
For the medium term, the 50-day moving average is around 82,100.
The medium-term support below is still 76,300. Yesterday’s low briefly broke below it, but the price recovered.
I’m leaning toward this being a complete flush-out of panic. In the short term, the first thing to watch is whether 81,200 can be cleared.
A sustained move above 81,200 would be a more convincing sign of strength. If it drops back below 79,900, this rebound may need more time to consolidate.
Do you think it’ll test 81,200 first, or pull back to 79,900 first?
$BTC
#比特币 #Market Analysis
The short-term levels we were watching yesterday, 77,500 and 76,700, were both briefly breached, but the daily close climbed back above the 20-day moving average.
First, watch 81,200 to the upside in the short term—it’s right around last night’s high.
To the downside, watch 79,900, near the early-morning retest.
For the medium term, the 50-day moving average is around 82,100.
The medium-term support below is still 76,300. Yesterday’s low briefly broke below it, but the price recovered.
I’m leaning toward this being a complete flush-out of panic. In the short term, the first thing to watch is whether 81,200 can be cleared.
A sustained move above 81,200 would be a more convincing sign of strength. If it drops back below 79,900, this rebound may need more time to consolidate.
Do you think it’ll test 81,200 first, or pull back to 79,900 first?
$BTC
#比特币 #Market Analysis
