Is Bitcoin setting up a major rejection at $83k, or is this local pullback just a breather before the next expansion wave?
$BTC / USDT | MARKET UPDATE ⚡
• Direction: SHORT 🔴
• Target Zone: 81,989
Technical Breakdown:
After spiking to a local peak of 83,158, Bitcoin is seeing an influx of short-term profit-taking on the 1H chart[span_0](start_span)[span_0](end_span). Price action has crossed below the MA(7) line at 82,551 and is testing dynamic support near the MA(25) at 82,019[span_1](start_span)[span_1](end_span). If selling volume continues to weigh in, a retest down toward the 81,989 support cursor is favored[span_2](start_span)[span_2](end_span).
Key Takeaway & Community Call:
Managing exposure around local moving average retests is key during volatile intraday swings.
Are you taking profits on this pullback, or adding to your positions? Drop your trade strategy below!
#BTC #Bitcoin #CryptoTrading #BinanceSquare
$BTC / USDT | MARKET UPDATE ⚡
• Direction: SHORT 🔴
• Target Zone: 81,989
Technical Breakdown:
After spiking to a local peak of 83,158, Bitcoin is seeing an influx of short-term profit-taking on the 1H chart[span_0](start_span)[span_0](end_span). Price action has crossed below the MA(7) line at 82,551 and is testing dynamic support near the MA(25) at 82,019[span_1](start_span)[span_1](end_span). If selling volume continues to weigh in, a retest down toward the 81,989 support cursor is favored[span_2](start_span)[span_2](end_span).
Key Takeaway & Community Call:
Managing exposure around local moving average retests is key during volatile intraday swings.
Are you taking profits on this pullback, or adding to your positions? Drop your trade strategy below!
#BTC #Bitcoin #CryptoTrading #BinanceSquare