#Bitcoin tested the $90,000 #resistance level but was rejected. The #price has now reached the local #support level of $87,000, which must hold. A breakdown below $87,000 could lead to increased #selling pressure. $BTC
The support level continues to be respected. Some may question the brief breakdown below support, but this move clearly reflects manipulation.
According to Richard D. Wyckoff’s textbook methodology, this is known as a “Spring” a temporary loss of support designed to trap sellers, followed by a quick recovery.
In such scenarios, price most often reacts bullishly from the support zone while maintaining structural respect, favoring an upside continuation. $SOL