BITCOIN UPDATE
"Bitcoin Analysis: Range Bound Between $83K-$86K
Breakout Direction Depends on Catalysts
- Below $83K: Watch for higher low scenario (blue square) for potential long opportunities.
- Above $86K: Anticipate test of $88K resistance (arrow).
Key Points:
1. Multiple scenarios, not forecasting.
2. Breaks can offer day trade opportunities.
3. Test of $78K-$80K area may offer long opportunities.
4. $88K-$90K resistance may offer short opportunities.
Bigger Picture:
1. Double bottom at $76K implies bullish structure.
2. Current prices attractive for investment with strategic sizing.
3. Break below $65K would change outlook.
Seasonal Trends:
1. Expect smaller price ranges and less eventful movements.
2. News catalysts may still cause price spikes.
Stay informed, adapt to market changes."$BTC