$BTC
Bitcoin
Current Price: BTC is trading at $81,771.53,
Support and Resistance:
Support: $76,606 (recent low)
Resistance: Around $88,500 (recent high)
Technical Outlook:
Bearish Momentum: The price is trending downward, breaking below the 7-day and 25-day moving averages.
Potential Rebound at Support: If BTC holds above $81,000, it could consolidate or attempt a reversal.
Bearish Continuation Risk: If BTC breaks below $76,600, it may lead to further declines.
Volume Confirmation Needed: A strong buy volume spike is necessary to confirm a reversal.
Conclusion:
Short-term: Bearish, but possible consolidation above $81,000.
Medium-term: Needs confirmation of trend reversal; breaking above $85,000 would be bullish.
Long-term: Still bullish overall, but the correction may continue before another uptrend.