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Let's analyze BTCUSDT :
BTC is currently moving within a defined channel, encountering significant selling pressure at the resistance zone. The 
88K-$87.5k level proved to be a strong barrier. Now, BTC is showing signs of breaking below the $85.2k support. The $84.2k level is a critical support, coinciding with a CME gap that BTC historically seeks to fill. However, if BTC fails to hold this support and breaks down from the channel, the next support to monitor would be the $81.2k-$80.6k range. Given the current volatility, it's advisable to wait for BTC to stabilize before entering any trades. This period of consolidation will provide more clarity on the market's direction.
Support Levels:
$85.2k
$84.1k
$80.6k
Resistance Level:
$88.1k
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze BTCUSDT :
BTC is currently moving within a defined channel, encountering significant selling pressure at the resistance zone. The 88K-$87.5k level proved to be a strong barrier. Now, BTC is showing signs of breaking below the $85.2k support. The $84.2k level is a critical support, coinciding with a CME gap that BTC historically seeks to fill. However, if BTC fails to hold this support and breaks down from the channel, the next support to monitor would be the $81.2k-$80.6k range. Given the current volatility, it's advisable to wait for BTC to stabilize before entering any trades. This period of consolidation will provide more clarity on the market's direction.Support Levels:
$85.2k
$84.1k
$80.6k
Resistance Level:
$88.1k
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments, and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
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.