Currently, #bitcoin is facing a strong resistance area, a confluence of 3 technical indicators: Ichimoku Cloud (daily frame), price resistance, EMA200 (daily frame)
There are 2 scenarios that can occur:
1⃣ If it breaks above the 86,000 USD area and closes the daily candle above this level + High Volume will confirm further price increase
2⃣ Fail Break and reverse down to retest the 70,000 USD - 72,000 USD price area
However, currently the Stochastic momentum indicator is signaling OVERBOUGHT on the M15 frame and approaching overbought on the H1 frame
👉 Therefore, for now, look to SHORT $BTC around the price area below 87,500 USD for tonight.
There are 2 scenarios that can occur:
1⃣ If it breaks above the 86,000 USD area and closes the daily candle above this level + High Volume will confirm further price increase
2⃣ Fail Break and reverse down to retest the 70,000 USD - 72,000 USD price area
However, currently the Stochastic momentum indicator is signaling OVERBOUGHT on the M15 frame and approaching overbought on the H1 frame
👉 Therefore, for now, look to SHORT $BTC around the price area below 87,500 USD for tonight.
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BTC
94,635.17
+0.29%