#Bitcoin is still struggling to reclaim $83,500.
$BTC is trading around $82,400 after several failed attempts to break above this level over the past two weeks.
The structure is still weak, with Bitcoin making lower highs since its rejection near $87,000.
Here's what I'm watching:
If BTC reclaims $83,500 and holds above it, we could see a move towards $85,000, followed by the major resistance at $87,000.
If another rejection sends us lower, $80,000 is the first area to watch, with $79,500 acting as the key local support.
Bitcoin has bounced several times around $80K, but buyers still haven't managed to push price back above resistance.
Until $83,500 is reclaimed, I think the risk of another move lower remains on the table.
$BTC is trading around $82,400 after several failed attempts to break above this level over the past two weeks.
The structure is still weak, with Bitcoin making lower highs since its rejection near $87,000.
Here's what I'm watching:
If BTC reclaims $83,500 and holds above it, we could see a move towards $85,000, followed by the major resistance at $87,000.
If another rejection sends us lower, $80,000 is the first area to watch, with $79,500 acting as the key local support.
Bitcoin has bounced several times around $80K, but buyers still haven't managed to push price back above resistance.
Until $83,500 is reclaimed, I think the risk of another move lower remains on the table.