Hello Traders! 👋
What are your thoughts on $BTC ?
$BTC is currently trading around $81,500. After several attempts to move higher, the price faced strong selling pressure in the $86,000–$87,700 resistance zone. Bitcoin has also broken below its ascending trendline, suggesting that bullish momentum may be weakening.
In the short term, Bitcoin could experience a corrective rebound toward the $83,500–$84,430 resistance zone. This area aligns with the 0.5 and 0.618 Fibonacci retracement levels and may act as a significant resistance zone.
If the price reaches this area and faces rejection, selling pressure could increase. Bitcoin may then resume its downward move, initially targeting $77,800, followed by the $75,000 zone.
As long as $BTC remains below the resistance zone marked by the red rectangle, the overall market bias remains bearish, with further downside potential.
#BTC #Bitcoin #CryptoAnalysis📈📉🐋📅🚀
What are your thoughts on $BTC ?
$BTC is currently trading around $81,500. After several attempts to move higher, the price faced strong selling pressure in the $86,000–$87,700 resistance zone. Bitcoin has also broken below its ascending trendline, suggesting that bullish momentum may be weakening.
In the short term, Bitcoin could experience a corrective rebound toward the $83,500–$84,430 resistance zone. This area aligns with the 0.5 and 0.618 Fibonacci retracement levels and may act as a significant resistance zone.
If the price reaches this area and faces rejection, selling pressure could increase. Bitcoin may then resume its downward move, initially targeting $77,800, followed by the $75,000 zone.
As long as $BTC remains below the resistance zone marked by the red rectangle, the overall market bias remains bearish, with further downside potential.
#BTC #Bitcoin #CryptoAnalysis📈📉🐋📅🚀
