#BitcoinBounceBack BitcoinBounceBack Bitcoin Struggles Near Key Support – Will Buyers Step In?

Current Market Status

Bitcoin ($BTC) has been on a downtrend since last night, currently trading at $83,924, up 1.67% in the last 24 hours. After reaching a high of $85,309, BTC has retraced, finding temporary support at $83,618.

Key Levels to Watch

Resistance: $84,676 – A breakout above this level could push BTC toward $85,000 - $85,500.

Support: $83,618 – Losing this support may trigger further downside toward $83,000 - $82,500.

Potential Trade Setups

Long Entry: If BTC holds above $83,618 and reclaims $84,676, it could target $85,000 and beyond.

Short Entry: A breakdown below $83,618 could open the door for $83,000 - $82,500.

Stop Loss: Consider placing a stop loss below $83,500 to manage risk.

Market Insights

Sellers dominate, with 86% sell interest in the order book.

Volume remains elevated, signaling strong market activity.

Parabolic SAR suggests continued downside pressure, though a potential bounce remains possible.

BTC must reclaim $84,676 for any bullish momentum, while failure to hold $83,618 could accelerate selling pressure. Will buyers defend this key level?

$BTC

BTC

83,959.7

+1.32%