Boom… Bitcoin is on hot coals!
After breaking the downward trend at $85,100 and achieving a rise to $86,400+, it is now correcting and standing at $83,857.
The bullish scenario:
Staying above $86,100 with today's candle closing = confirmation of breaking the trend.
Our first target is $88,500, and if we surpass that, we will head to $92K and then to historic numbers!
This is the same scenario we warned about a week ago... and it worked!
But is this confirmed? No, not yet! Let's see the full picture.
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The bearish scenario (if it fails to hold):
Returning below $83K might take us back to $81,400, a very important support level.
Breaking this support would put $78,300 on the radar, and if that is lost... we might see $74,500!
And possibly $69,500
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What does the technical analysis say now?
RSI at 37 = in the low neutral zone, meaning there is still room for upward movement, but momentum is weak.
MACD: slight negative crossover, indicating a possibility of a temporary correction or drop if momentum doesn’t return quickly.
Bollinger Bands: the price has returned inside the band after breaking the upper limit, which often happens before continuing the trend or correcting, so the battle is on!
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Our message to you:
The market is not a random place; every step is calculated!
Stay updated with Shart Sharks continuously... and don’t enter a trade without clear bullish and bearish scenarios in front of you!
Engagement question:
If Bitcoin drops to $78K, will you buy or wait?
Write your opinion below!
Shart Tip:
There’s no such thing as a “once-in-a-lifetime opportunity” without capital management... the real opportunity is when you are ready for any direction!
