Malik trander
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Bearish
#btc Bitcoin will fall to 72 k
Bitcoin Price Projection: Resistance at $87K Followed by Pullback to $72K
Bitcoin (BTC) continues to ride the wave of bullish momentum, with current technical indicators and market sentiment suggesting a potential test of the $87,000 resistance level in the near term. This zone represents a significant psychological and technical barrier, where strong selling pressure is expected to emerge.
Key Levels to Watch:
Resistance: $87,000
Support: $72,000
Technical Analysis Overview:
1. Resistance at $87K:
The $87,000 level is being eyed as a key resistance zone. This area coincides with the upper trendline of the current ascending channel and is also near previous Fibonacci extension levels derived from the last major swing low. Volume is expected to taper off slightly as the price approaches this region, increasing the risk of a short-term reversal.
2. Bearish Divergence Signals:
Momentum indicators like RSI and MACD are starting to show signs of bearish divergence, suggesting that while price action is still climbing, underlying strength is weakening. This typically precedes a corrective move.
3. Pullback to $72K:
Following a potential rejection at $87K, Bitcoin may see a healthy pullback to the $72,000 level, which serves as a solid support base. This level aligns with previous consolidation zones and may act as a springboard for future bullish moves. If this support holds, it would confirm a higher low in the overall uptrend.
4. Market Sentiment:
While sentiment remains broadly bullish, funding rates and leverage levels have been climbing, which often precedes short-term corrections as overleveraged positions unwind.
Conclusion:
A move up to $87,000 could mark a short-term top for Bitcoin, with a retracement to $72,000 offering a potential entry point for traders waiting on the sidelines. The broader bullish structure remains intact unless $72K breaks down significantly.
Bitcoin Price Projection: Resistance at $87K Followed by Pullback to $72K
Bitcoin (BTC) continues to ride the wave of bullish momentum, with current technical indicators and market sentiment suggesting a potential test of the $87,000 resistance level in the near term. This zone represents a significant psychological and technical barrier, where strong selling pressure is expected to emerge.
Key Levels to Watch:
Resistance: $87,000
Support: $72,000
Technical Analysis Overview:
1. Resistance at $87K:
The $87,000 level is being eyed as a key resistance zone. This area coincides with the upper trendline of the current ascending channel and is also near previous Fibonacci extension levels derived from the last major swing low. Volume is expected to taper off slightly as the price approaches this region, increasing the risk of a short-term reversal.
2. Bearish Divergence Signals:
Momentum indicators like RSI and MACD are starting to show signs of bearish divergence, suggesting that while price action is still climbing, underlying strength is weakening. This typically precedes a corrective move.
3. Pullback to $72K:
Following a potential rejection at $87K, Bitcoin may see a healthy pullback to the $72,000 level, which serves as a solid support base. This level aligns with previous consolidation zones and may act as a springboard for future bullish moves. If this support holds, it would confirm a higher low in the overall uptrend.
4. Market Sentiment:
While sentiment remains broadly bullish, funding rates and leverage levels have been climbing, which often precedes short-term corrections as overleveraged positions unwind.
Conclusion:
A move up to $87,000 could mark a short-term top for Bitcoin, with a retracement to $72,000 offering a potential entry point for traders waiting on the sidelines. The broader bullish structure remains intact unless $72K breaks down significantly.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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