Bitcoin Faces Correction - Will Bitcoin Regain Momentum and Break Through 84,000
Currently, the trading price of $Bitcoin is approximately $81,620.43, down 2.76%. The 4-hour setup for Bitcoin remains bullish. I will share an analysis of Bitcoin, including two scenarios (support and resistance). It is possible that after the 4-hour close, Bitcoin may drop and retest 79,900, then possibly retrace to the 81k level, but if it breaks 79,900, it may further decline to the 76k level; if it breaks the 76k level, the next possible target is around 70k to 73,700, which is a stronger support area for Bitcoin.
If Bitcoin does not break the key level of 79,900 or gain momentum from the current level, the next possible target for Bitcoin may be around 83,700. If this resistance level is broken, the next target for Bitcoin may be between 84,300 and 84,900. If these levels are breached, the next level is approximately 87,300 to 87,900. If Bitcoin surpasses these levels, the next level could be around 91k. If 91,300 to 91,900 is broken, we may face resistance levels of 93,300 to 93,900. The final resistance level for me is around 95,300 to 95,900. These final levels seem difficult for Bitcoin to break through. After that, Bitcoin may pull back to the 70k range.
Bitcoin dropped to 79,939 but is now showing signs of recovery. With strong support near 80,000, will BTC bounce back to new highs or decline further before the next rebound?
Personal opinion, for reference only.
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