$BTC
💰Current price: $82,500
📉Sentiment: Bearish
💜Market fear and greed: 34 points (Fear)
💥Expected volatility: Very High
⚠️Main support: $80,000
🚨Main resistance: $84,600
🗣️Summary of what to expect today: Bitcoin has been slowly recovering in the last few hours, but the momentum has been slowing down, as much of the market seems to be waiting for the most important data of the week: the CPI. If the results come out unexpectedly, we could see a significant increase in volatility.
Currently, Bitcoin is in a decision zone. Key supports are at $81,500, where the 50-hour moving average and the 0.236 Fibonacci level converge. If this level breaks, the next support would be at $80,000, and a drop below both could bring us back to the critical zone of $76,600, the lowest recorded earlier this week.
On the resistance side, the level of $84,600 will be key, as it has been the target for much of the week. Additionally, in this zone is the 200-hour moving average, which could act as resistance, as Bitcoin has been below it since last Friday.
If Bitcoin manages to surpass $84,600 and then confirms this level as support, we could talk about a more significant recovery and it could mark a trend change in the short term, as long as no news breaks the market obviously.
💜 Market sentiment: The sentiment left behind extreme fear again and returned to fear zones, at 34 points. We have been in areas of low confidence for a month.
📈Tradingdifferent Map: Analyzing the liquidation map of Bitcoin, we observe a significant concentration at $84,100 and another more distant one at $87,200. On the lower end, the largest accumulations are at $75,300 and $73,800.
