$BTC BITCOIN ANALYSIS UPDATE ๐๐ค
Recent Move: Price made a strong upward spike followed by a sharp rejectionโlikely a liquidity grab or bull trap ( typical of a liquidity hunt or fake breakout ).
Current Structure: Lower highs and lower lows are forming, indicating short-term bearish momentum.
Resistance Zone: Around $86,500 โ $87,000 acted as a rejection zone.
Support Zone: Price is hovering near a previous low area around $82,800 โ $82,000.
๐ Bearish Bias (Higher Probability short-term):
If $82,000 breaks convincingly, we could revisit $81,200 โ $80,800 zone.
Momentum and structure favor downside for now unless bulls reclaim a strong level.
๐ Bullish Recovery (Less Likely unless breakout occurs):
If bulls reclaim $84,000 โ $84,400, potential retest of $85,800+ could be on the table.
Key Levels :
๐ Resistance Levels (areas price is rejecting from) :
$86,800 โ $87,200 โ Strong rejection zone; sharp wick shows selling pressure.
$84,000 โ $84,400 โ Mid-range resistance. Price tried reclaiming this, but failed โ suggesting sellers are in control here.
๐ Support Levels (areas buyers may step in) :
$82,000 โ $81,800 โ Immediate support zone, price is testing this right now.
$81,200 โ Next important level. If this breaks, thereโs open space below.
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