Hi, Everyone
Here's My thoughts About #BTC
Current Overview:
Price: $84,600
24H Range: $83,736 – $85,470
Volume: Noticeably lower after a spike around early April
Key Levels:
Resistance: $89,700 – $95,000 zone (past price rejections)
Support: $74,500 (recent swing low), and stronger support near $73,200
Candlestick & Volume Analysis:
Recent Price Action: BTC formed a swing low at $74,508 and has since made a recovery with higher lows and relatively consistent candles.
Volume Spike: There was a large increase in volume when BTC bounced from the $74,500 area. That signals strong demand at that level.
Current Consolidation: Price is moving sideways between $83,000–$85,500. This is a tight consolidation zone, which often precedes a breakout.
Momentum & Trend Analysis:
BTC is trying to form a base after a correction from the $99,000 area.
The downtrend from the all-time high seems to have halted, but a reversal is not confirmed yet.
Volume has decreased after the bounce, indicating buyers are cautious or waiting.
Buy/Sell Sentiment (Order Book):
Buy Pressure: 67.64%
Sell Pressure: 32.36%
This strong buy-side interest suggests traders are anticipating a breakout or accumulation at this level.
What to Watch for (Next Move):
Bullish Scenario:
If BTC breaks and holds above $85,500–$86,000, next short-term resistance is around $89,700–$90,000.
A breakout above $90K would likely target the $95K level again.
Bearish Scenario:
If BTC fails to break above $85,500 and starts dipping, watch the support at $83,700.
A break below $83,000 may retest the swing low at $74,500, especially if volume increases on red candles.
Summary:
Trend: Neutral to Bullish short-term
Key Resistance: $85,500 → $89,700 → $95,000
Key Support: $83,700 → $78,700 → $74,500
Next Move Likely: BTC is in a consolidation phase; a breakout above $85,500 would be bullish confirmation