Bitcoin Consolidation Continues - Key Levels to Watch! ๐
BTC is currently trading around $89,750, staying inside a critical zone. Here's a quick breakdown:
๐ Where's the Price?
Current Action: Stuck between immediate support near $88.5K (today's low) and resistance at $91.2K (today's high).
The Bigger Picture: The major hurdle is at $94,000. A break above is needed for a bullish shift. Major support below is $89,200, then $80,600.
โ ๏ธ What Does This Mean?
Volume is down over the past week (-5.52%), confirming low momentum and bearish sentiment.
The overall market mood is still "Extreme Fear".
Until BTC can close decisively above $94K, the path of least resistance is sideways to down.
๐ฏ What to Do Next?
For traders: Watch the $88.5K - $91.2K range. A break below $88.5K could lead to a test of $89.2K support. A break above $91.2K may retest $94K
resistance.
For investors: This consolidation could be an opportunity if you believe in the long-term thesis, but be ready for volatility.
What's your take? Is this accumulation before a move up, or are we heading lower? Let me know in the comments! ๐
[Remember: This is not financial advice. Always do your own research.]