$BTC Market Outlook: Is $87K Where the Bulls Got Trapped?
Bitcoin is currently trading around $69,535, struggling to recover after a sharp rejection from the $85K–$87K region.
Looking back, that rally may have been a bull trap. Buyers failed to sustain momentum, and the subsequent sell-off has pushed BTC back below key support levels.
The market structure remains weak, with lower prices and limited evidence of a convincing reversal.
Key levels I’m watching:
• $69K: Immediate support area
• $68K: Next downside level
• $64K: Major support
• $62K: My broader downside target
For now, I remain cautious about calling a bottom. Unless BTC reclaims key resistance and establishes a higher high, another leg lower remains a possibility.
The $85K–$87K rally may have been the exit liquidity bulls overlooked.
Is $62K the next major destination?
#BTC #Bitcoin #CryptoTrading
Bitcoin is currently trading around $69,535, struggling to recover after a sharp rejection from the $85K–$87K region.
Looking back, that rally may have been a bull trap. Buyers failed to sustain momentum, and the subsequent sell-off has pushed BTC back below key support levels.
The market structure remains weak, with lower prices and limited evidence of a convincing reversal.
Key levels I’m watching:
• $69K: Immediate support area
• $68K: Next downside level
• $64K: Major support
• $62K: My broader downside target
For now, I remain cautious about calling a bottom. Unless BTC reclaims key resistance and establishes a higher high, another leg lower remains a possibility.
The $85K–$87K rally may have been the exit liquidity bulls overlooked.
Is $62K the next major destination?
#BTC #Bitcoin #CryptoTrading
