What’s Next for BTC Price?🧐

Bitcoin is currently riding a wave of strong bullish activity, targeting a stable position above the $85K mark. It briefly touched a peak of $85,309 before encountering resistance and slipping below $85K. Currently, bears are strongly defending a surge above 23.6% Fib channel. As of now, Bitcoin’s price trades at $84,593, marking a 5.3% increase over the last 24 hours.

Looking ahead, the BTC/USDT trading pair is challenging a resistance area within $84,205 to $86,704. Increased buying efforts are anticipated to ward off any significant pullbacks. Should Bitcoin successfully breach the $90K threshold, it could potentially aim for a climb towards $95,000.

Conversely, a failure to meet buyer interest near the $85K level might lead to a pullback, possibly dropping to a low of $79,974.

However, the long/short ratio of Bitcoin has taken a sharp downturn, currently standing at 0.67. This indicates an increasing dominance by sellers, who are likely pushing for an immediate correction in the BTC price chart. At present, about 60% of traders anticipate a decline in the price.$BTC