Bitcoin $BTC
is approaching a critical point on the daily chart.
BTC is trading around $80,800, sitting just above the lower Bollinger Band at $80,735.
The middle band is at $83,653, which Bitcoin has now lost.
That level is important because it can help us judge whether momentum is recovering or the market remains under pressure.
If BTC reclaims $83.6K, we could see a move towards the $85K–$86K area.
If the lower band breaks, the risk of another leg down increases, particularly with Bitcoin already showing weakness after failing to hold the $84K region.
One thing to remember: touching the lower Bollinger Band doesn't automatically mean Bitcoin is oversold or due for a bounce.
In a strong downtrend, price can continue riding the lower band.
I'm watching two things here: whether buyers defend the $80K area, and whether BTC can get back above $83.6K.
I'm watching how price reacts here before making any assumptions about a reversal.
is approaching a critical point on the daily chart.
BTC is trading around $80,800, sitting just above the lower Bollinger Band at $80,735.
The middle band is at $83,653, which Bitcoin has now lost.
That level is important because it can help us judge whether momentum is recovering or the market remains under pressure.
If BTC reclaims $83.6K, we could see a move towards the $85K–$86K area.
If the lower band breaks, the risk of another leg down increases, particularly with Bitcoin already showing weakness after failing to hold the $84K region.
One thing to remember: touching the lower Bollinger Band doesn't automatically mean Bitcoin is oversold or due for a bounce.
In a strong downtrend, price can continue riding the lower band.
I'm watching two things here: whether buyers defend the $80K area, and whether BTC can get back above $83.6K.
I'm watching how price reacts here before making any assumptions about a reversal.