$BTC
Bitcoin (BTC) – Daily Timeframe Analysis
Bitcoin is currently trading around $87,700, showing signs of consolidation after a strong corrective move from the recent highs.
Market Structure
BTC previously topped near the $124k–$125k zone, followed by a sharp bearish impulse, confirming a trend correction.
Price has now formed a lower-high, lower-low structure, indicating the market is still in a corrective / bearish phase on the daily timeframe.
However, recent candles show reduced selling pressure, suggesting sellers are losing momentum.
Key Support Levels
$84,000 – $85,000 → Major demand zone where buyers are stepping in.
This area has acted as a temporary base, preventing further downside for now.
Key Resistance Levels
$92,000 – $94,000 → First resistance (previous breakdown zone).
$100,000 – $104,000 → Strong supply area; reclaiming this would shift momentum bullish again.
Volume Insight
High volume during the sell-off confirms strong distribution.
Current lower volume indicates market indecision, often seen before a range expansion or reversal.
Outlook
Below $84k → Risk of continuation toward $80k support.
Above $92k (daily close) → Probability of a relief rally toward $100k.
For now, BTC remains range-bound, waiting for a clear breakout or breakdown.
Bias: Neutral to cautiously bearish
Strategy: Wait for confirmation (break above $92k or below $84k)