Bitcoin has successfully bounced from the $74K–$77K support zone, confirming it as a strong demand area. Currently trading around $82,521, price action suggests a short-term bullish recovery—but caution is still warranted.
🔸 Key Support Zone at $74K–$77K:
This zone acted as a solid floor, with multiple wick rejections and a strong bounce. As long as BTC holds above this zone, bulls retain hope.
🔸 Immediate Resistance at $85K:
BTC needs a clean break and close above $85K to confirm continuation toward $90K to 99k+. Failure at this level may invite another retest of lower support.
🔸 Risk Level at $74K:
A breakdown below $74K could invalidate this bounce, targeting deeper zones like $66K or even $55K–$50K in the worst case.
🔸 Current Outlook:
Bullish Path: Hold above $77K and break $85K → push to $90K+
Bearish Path: Rejection at $85K → retest $77K → break = more downside
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.