Hey Binance Square Family!
Bitcoin (BTC/USD) is showing signs of hesitation below a newly established resistance zone at $86,208.80. Traders are keeping a close eye on this level as a potential sell setup forms in the current market structure.
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đ Key Level: $86,208.80 â New Resistance Zone
BTC has recently struggled to break above $86,208, making it a significant resistance level in the short term. Until we see a confirmed breakout above this level, the bias remains bearish.
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đ Setup Overview
Current Structure: BTC is trading below resistance, forming lower highsâa sign of possible continued weakness.
Sell Zone: Watch for price to approach and react to the $86,208 area.
Confirmation Needed: Look for bearish candlestick patterns or rejection wicks at this zone before entering short positions.
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đ Indicators to Monitor
Volume: Weak volume on attempts to break resistance could confirm lack of buying strength.
RSI: Failure to break above 50 may support the bearish case.
MACD: A bearish crossover near resistance would strengthen the sell signal.
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â ď¸ Risk Management Tips
Use a tight stop-loss just above the resistance to minimize risk.
Monitor price action closelyâif BTC breaks and holds above $86,208, this bearish setup becomes invalid.
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đŹ Final Thoughts
As long as Bitcoin stays below $86,208, the market remains vulnerable to further downside. Keep watching this level closelyâitâs a key decision point for short-term traders.
Stay disciplined and always trade with confirmation, Binance Square Fam!
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