#MarketRebound #BitcoinForecast #BinanceSquareFamily $BTC
Bullish Indicators:
Current Price: $83,703.54, showing a +5.12% daily change — strong short-term momentum.
Recent Low: $74,508 was a strong bounce point, showing buying interest.
Moving Averages:
Price has crossed above the MA(7) and is approaching MA(25), suggesting a short-term trend reversal.
However, it’s still below the MA(99), which could act as resistance.
Bearish / Caution Signals:
Volume: Spikes are present, but there is a bit of fading interest after the initial bounce.
Order Book Sentiment: 75.37% are selling, only 24.63% buying — not ideal for a breakout unless sentiment flips.
Previous Highs: The last strong resistance near $95,000 could be a big psychological barrier.
Prediction Context:
To Hit $90K Again:
Possible, especially if BTC holds above the MA(25) and breaks through MA(99) with volume.
Watch for a break above $84,220 (recent high) — this would likely trigger bullish momentum.
Short-Term Probability (Next 1-2 Weeks):
If bullish momentum continues and volume confirms, BTC could test $87K–$90K.
A rejection below $80K again would weaken the bullish setup.
Alright, let’s break it down with a more detailed technical analysis:
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1. RSI (Relative Strength Index)
Not visible numerically, but from the context of the price rebound and the shape of the candles, RSI is likely:
Climbing back from an oversold region, possibly around the 40–50 zone.
This suggests momentum is building but hasn’t reached the overbought zone (above 70), so there's room to grow.
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2. MACD (Moving Average Convergence Divergence)
MACD may be forming a bullish crossover, especially since the price has sharply bounced above the short-term MAs.
If confirmed, this crossover is often a buy signal for traders.
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3. Fibonacci Retracement (Rough Estimate)
Let’s assume:
Swing High: $95,000
Swing Low: $74,508
Key Fib Levels:
38.2%: ~$82,470 → Already broken
50%: ~$84,750 → Near the 24h High ($84,220)
61.8%: ~$87,030 → Important level to watch
100%: $95,000 → Full retrace target
So... Breaking above $84.7K with volume would likely send BTC toward the $87K zone, and potentially $90K+ soon after.
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4. Candlestick Pattern Insight
Recent candles show bullish engulfing-type behavior, with long green bodies recovering after strong selling.
This kind of formation often marks a reversal or continuation, especially after a local bottom like $74.5K.
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5. Volume Confirmation
Volume rose sharply during the bounce.
But needs follow-through. If the next green candle has higher volume and closes above $84K, that would strongly confirm the breakout.
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TL;DR Prediction
If BTC holds above $83.5K and breaks $84.75K with strength:
Target 1: $87K (Fib 61.8%)
Target 2: $90K psychological
Target 3: $95K retest
But if it drops below $80K again:
Revisit zone: $78K
Major support: $74.5K
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