Bitcoin is testing a critical support zone đ
$BTC has broken below the $83.5K area, which had been acting as an important support during the recent consolidation.
Now the structure is getting interesting:
âą $85.5Kâ$86K: Short-term resistance
âą $87Kâ$87.5K: Major resistance
âą $83.5K: Key level turned resistance
âą $82.5K: Next support
âą $81.7K: Major demand zone
The rejection from the $86K+ area followed by the sharp breakdown suggests sellers currently have the upper hand.
If BTC cannot reclaim $83.5K, the next area Iâm watching is $82.5K, followed by the $81.7K demand zone.
But if BTC quickly reclaims $83.5K, this breakdown could turn into another liquidity sweep.
For me, $83.5K is the level to watch right now.
Not financial advice. DYOR.
#Bitcoin
$BTC has broken below the $83.5K area, which had been acting as an important support during the recent consolidation.
Now the structure is getting interesting:
âą $85.5Kâ$86K: Short-term resistance
âą $87Kâ$87.5K: Major resistance
âą $83.5K: Key level turned resistance
âą $82.5K: Next support
âą $81.7K: Major demand zone
The rejection from the $86K+ area followed by the sharp breakdown suggests sellers currently have the upper hand.
If BTC cannot reclaim $83.5K, the next area Iâm watching is $82.5K, followed by the $81.7K demand zone.
But if BTC quickly reclaims $83.5K, this breakdown could turn into another liquidity sweep.
For me, $83.5K is the level to watch right now.
Not financial advice. DYOR.
#Bitcoin