#BTCRebound Bitcoin is testing trend resistance and potentially heading for a breakout. The current price is around $84,681.81 with a 1.48% increase. Here's a breakdown of the potential movement:
- *Resistance Levels:*
- Immediate resistance at $84,700
- Stronger resistance at $88,800, which needs to be overcome for further growth
- *Support Levels:*
- $78,200
- $73-74,000
- $66,500
The market is currently consolidating, with short bodies and long shadows indicating uncertainty. Long tails to the downside suggest weak market reaction. Factors influencing the market include ¹ ²:
- *US-China Conflict:* Investors are seeking less risky assets like gold, which might not favor cryptocurrencies.
- *US Interest Rate Cuts:* Rumors of rate cuts could provide support for the market.
- *Technical Break:* The recent 90-day technical break by Trump has given the US a head start to prepare for potential situations.
*Potential Price Movement:*
- *Short-term Prediction:* Bitcoin might test the liquidity zone between $84.7K and $88.8K.
- *Long-term Prediction:* Some predictions suggest a potential increase to $116,589 by May 13, 2025, reflecting a 37.44% growth.
*Key Considerations:*
- A sharp approach or false breakout of liquidity zones may provoke a reversal and fall.
- Growth can be considered if Bitcoin overcomes $88,800 and consolidates above this zone.
Keep in mind that trading carries risks, and it's essential to stay informed and adapt to market changes.
