BTC Tests Major Support — Can Buyers Push It Back to $84.8K?
$BTC is approaching a major support confluence around the $81,950–$82,950 Support Zone, the Cumulative Long Liquidation Leverage at $81,770–$82,630, and the key $82,620 trading level.
The 50_SMA(Daily) is also providing important support, and BTC has not yet confirmed a breakdown below it.
From an Elliott Wave perspective, Bitcoin appears to be completing Wave Y of a Double Three Correction (W-X-Y), suggesting that the current corrective structure may be approaching its final stage.
As long as Bitcoin remains above the 50_SMA(Daily) and does not confirm a breakdown with at least one Daily Candle Close below it, another bullish move remains possible.
I expect BTC to potentially react from the Fibonacci Levels, Support Zone, and nearby Long Liquidation area.
The first upside target is around the key $84,000 level.
If bullish momentum strengthens, Bitcoin could extend toward the Cumulative Short Liquidation Leverage at $84,320–$84,820.
Trade Setup
First TP: $83,980
Second TP: $84,320–$84,820
Stop Loss: $81,880
Key Levels: $82,620 | $84,000
For now, the 50_SMA(Daily) and $81,950–$82,950 support structure are the main defenses bulls need to protect.
Which level will Bitcoin reach first?
🟢 $84,820
🔴 $81,880
$BTC is approaching a major support confluence around the $81,950–$82,950 Support Zone, the Cumulative Long Liquidation Leverage at $81,770–$82,630, and the key $82,620 trading level.
The 50_SMA(Daily) is also providing important support, and BTC has not yet confirmed a breakdown below it.
From an Elliott Wave perspective, Bitcoin appears to be completing Wave Y of a Double Three Correction (W-X-Y), suggesting that the current corrective structure may be approaching its final stage.
As long as Bitcoin remains above the 50_SMA(Daily) and does not confirm a breakdown with at least one Daily Candle Close below it, another bullish move remains possible.
I expect BTC to potentially react from the Fibonacci Levels, Support Zone, and nearby Long Liquidation area.
The first upside target is around the key $84,000 level.
If bullish momentum strengthens, Bitcoin could extend toward the Cumulative Short Liquidation Leverage at $84,320–$84,820.
Trade Setup
First TP: $83,980
Second TP: $84,320–$84,820
Stop Loss: $81,880
Key Levels: $82,620 | $84,000
For now, the 50_SMA(Daily) and $81,950–$82,950 support structure are the main defenses bulls need to protect.
Which level will Bitcoin reach first?
🟢 $84,820
🔴 $81,880