๐จ Bitcoin Is Testing $87K Again โ Breakout or Another Rejection?
Bitcoin ($BTC) is back near a critical resistance zone.
BTC is currently trading around $86.2K, while the $87Kโ$87.4K area has repeatedly stopped buyers. Bitcoin has now faced multiple rejections around this level, making it the key area to watch for the next major move.
๐ Why $87K Matters
A daily close above $87K could provide an important signal that buyers are finally absorbing the selling pressure around this resistance.
But another rejection could keep BTC trapped in its current range and increase the possibility of a deeper pullback.
๐ข Bullish Scenario
If Bitcoin breaks above $87Kโ$87.4K with strong volume and holds the level, momentum could strengthen.
The next upside targets would then depend on how strongly buyers follow through.
A breakout without volume, however, could turn into a false move.
๐ด Bearish Scenario
If BTC is rejected again, traders could start watching the lower support zones.
The $84Kโ$85K area is particularly important for short-term market structure.
A decisive loss of support would weaken the current bullish setup.
๐ The Bigger Picture
Binance Research reports that the total crypto market capitalisation rose 11% to approximately $2.99T in September.
It also notes that Bitcoin has formed a golden cross, with the 50-day moving average moving above the 200-day moving average โ a sign of improving medium-term momentum.
However, Binance Research also warns that elevated US Treasury yields remain a headwind, while historical data shows that strong rebounds do not always confirm a lasting bottom.
๐ What I'm Watching
1๏ธโฃ BTC daily close above $87K
2๏ธโฃ Trading volume during a breakout
3๏ธโฃ ETF inflows and outflows
4๏ธโฃ US Treasury yields
5๏ธโฃ BTC reaction around $84Kโ$85K
What do you think โ will BTC break $87K this time, or will sellers reject it again? ๐
#BTCโ๏ธ #crypto #Binance #CryptoMarketAlert #BitcoinAnalysis
Bitcoin ($BTC) is back near a critical resistance zone.
BTC is currently trading around $86.2K, while the $87Kโ$87.4K area has repeatedly stopped buyers. Bitcoin has now faced multiple rejections around this level, making it the key area to watch for the next major move.
๐ Why $87K Matters
A daily close above $87K could provide an important signal that buyers are finally absorbing the selling pressure around this resistance.
But another rejection could keep BTC trapped in its current range and increase the possibility of a deeper pullback.
๐ข Bullish Scenario
If Bitcoin breaks above $87Kโ$87.4K with strong volume and holds the level, momentum could strengthen.
The next upside targets would then depend on how strongly buyers follow through.
A breakout without volume, however, could turn into a false move.
๐ด Bearish Scenario
If BTC is rejected again, traders could start watching the lower support zones.
The $84Kโ$85K area is particularly important for short-term market structure.
A decisive loss of support would weaken the current bullish setup.
๐ The Bigger Picture
Binance Research reports that the total crypto market capitalisation rose 11% to approximately $2.99T in September.
It also notes that Bitcoin has formed a golden cross, with the 50-day moving average moving above the 200-day moving average โ a sign of improving medium-term momentum.
However, Binance Research also warns that elevated US Treasury yields remain a headwind, while historical data shows that strong rebounds do not always confirm a lasting bottom.
๐ What I'm Watching
1๏ธโฃ BTC daily close above $87K
2๏ธโฃ Trading volume during a breakout
3๏ธโฃ ETF inflows and outflows
4๏ธโฃ US Treasury yields
5๏ธโฃ BTC reaction around $84Kโ$85K
What do you think โ will BTC break $87K this time, or will sellers reject it again? ๐
#BTCโ๏ธ #crypto #Binance #CryptoMarketAlert #BitcoinAnalysis
