$BTC

BTC Trading strategy and Analysis

Bitcoin started a recovery wave from the $81,200 zone after extending losses below the $82,500 support. The cryptocurrency managed to push above $82,500 and $83,000 resistance levels, but the recovery appears to have stalled.

The price is currently trading below $83,500 and the 100 hourly Simple moving average. This suggests that buyers are struggling to gain momentum in the current market conditions.

Bitcoin has fallen approximately 24.7% from its all-time high recorded above $109,000 in January. This decline highlights the ongoing bearish pressure affecting the market.