Bitcoin is currently in an indecisive phase, showing signs of both potential upward and downward movement. Traders should exercise caution as the price hovers around critical support and resistance zones.
Key Levels to Watch
📌 Support Levels:
$86,500 - $86,000 (Short-term support)
$82,500 - $81,500 (Major support zone)
📌 Resistance Levels:
$89,500 - $90,000 (Key resistance area)
Market Outlook
🔸 Bullish Scenario: If BTC maintains support around $86,500 and shows strong buying momentum, we could see a retest of $89,500 - $90,000. A breakout above this level may trigger further upside.
🔸 Bearish Scenario: A breakdown below $86,000 could push BTC towards the $82,500 - $81,500 support range. This would indicate increased selling pressure.
Trading Recommendation
⚠️ The market is currently indecisive, making it risky to open new positions. It's best to wait for a confirmed breakout or rejection before entering trades.
Conclusion
Stay patient and let the market provide clearer direction before taking action. Keep an eye on volume and price action at critical levels for confirmation.
Key Levels to Watch
📌 Support Levels:
$86,500 - $86,000 (Short-term support)
$82,500 - $81,500 (Major support zone)
📌 Resistance Levels:
$89,500 - $90,000 (Key resistance area)
Market Outlook
🔸 Bullish Scenario: If BTC maintains support around $86,500 and shows strong buying momentum, we could see a retest of $89,500 - $90,000. A breakout above this level may trigger further upside.
🔸 Bearish Scenario: A breakdown below $86,000 could push BTC towards the $82,500 - $81,500 support range. This would indicate increased selling pressure.
Trading Recommendation
⚠️ The market is currently indecisive, making it risky to open new positions. It's best to wait for a confirmed breakout or rejection before entering trades.
Conclusion
Stay patient and let the market provide clearer direction before taking action. Keep an eye on volume and price action at critical levels for confirmation.
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.
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.