#RiskRewardRatio

After Bitcoin touched $86,100 as its highest level in 24 hours, it has now retreated and is currently trading at $83,663, down -2.06% for the day.

Is what we are witnessing just a healthy correction within an upward wave? Or are we facing a failure to maintain above a key resistance?

Quick analysis:

Important support: 83,000 – 81,500

Closest resistance: 84,800 – 86,000

The RSI indicator is approaching oversold levels (37), which may pave the way for a technical rebound in the short term.

Question for the community:

Do you see this drop as a golden buying opportunity?

Or do you expect further decline towards the 80,000 levels?

Share your analysis and be part of the discussion.