Bitcoin stalls near $83K as US buying pressure wanes.
Bitcoin was rejected from the $86K‑$90K resistance zone, with $86K acting as the immediate barrier and broader resistance near $95K. The price stays above the 100‑day and 200‑day moving averages, both around $72K, which could serve as dynamic support if the correction deepens.
On the 4‑hour chart, a rising wedge broke down, sending BTC down to the $80K area before a modest rebound to $83K. A bearish order block near $85K and an RSI in the mid‑40s below the neutral 50 level suggest limited bullish momentum. Key downside zones are $80K and the $75K‑$78K demand area.
The Coinbase Premium Index flipped sharply negative to about –0.1, indicating Bitcoin trades at a discount on Coinbase and pointing to weaker US‑based spot demand as price rejects resistance.
Do you see the next support holding, or is a deeper correction likely?
#Bitcoin #Crypto #MarketAnalysis #FinTech #MacroEconomy
Bitcoin was rejected from the $86K‑$90K resistance zone, with $86K acting as the immediate barrier and broader resistance near $95K. The price stays above the 100‑day and 200‑day moving averages, both around $72K, which could serve as dynamic support if the correction deepens.
On the 4‑hour chart, a rising wedge broke down, sending BTC down to the $80K area before a modest rebound to $83K. A bearish order block near $85K and an RSI in the mid‑40s below the neutral 50 level suggest limited bullish momentum. Key downside zones are $80K and the $75K‑$78K demand area.
The Coinbase Premium Index flipped sharply negative to about –0.1, indicating Bitcoin trades at a discount on Coinbase and pointing to weaker US‑based spot demand as price rejects resistance.
Do you see the next support holding, or is a deeper correction likely?
#Bitcoin #Crypto #MarketAnalysis #FinTech #MacroEconomy