$BTC REJECTED AGAIN ... SELLERS STILL IN CONTROL
Bitcoin faced another strong rejection near $85,000 and dropped back toward the $83,000 area. Buyers tried to recover, but the bounce was quickly sold, showing that short-term selling pressure is still strong.
BTC is now trading around $82,992, with the recent low near $82,600 acting as immediate support. If this area fails to hold, another move lower could follow. On the upside, bulls need to reclaim $83,500–$84,000 first before we can talk about a stronger recovery.
For now:
Trend: Short-term bearish
Resistance: $83,500–$84,000, then $85,000
Support: $82,600
Focus: Wait for confirmation before taking heavy longs
The market is still in a correction phase. No need to rush the next clean reaction around support will give us a much better entry.
Bitcoin faced another strong rejection near $85,000 and dropped back toward the $83,000 area. Buyers tried to recover, but the bounce was quickly sold, showing that short-term selling pressure is still strong.
BTC is now trading around $82,992, with the recent low near $82,600 acting as immediate support. If this area fails to hold, another move lower could follow. On the upside, bulls need to reclaim $83,500–$84,000 first before we can talk about a stronger recovery.
For now:
Trend: Short-term bearish
Resistance: $83,500–$84,000, then $85,000
Support: $82,600
Focus: Wait for confirmation before taking heavy longs
The market is still in a correction phase. No need to rush the next clean reaction around support will give us a much better entry.
