BItcoin consolidating below former channel support 👀
#bitcoin is currently trading around 88,600 after breaking down from an ascending channel that had guided price action since early January. The recent rejection from the upper channel.
Tecnically Price is now consolidating below former channel support, which has flipped into resistance around 90K / 91K. This zone is acting as a supply area, keeping buyers capped.
If $BTC fails to reclaim 90K, price is likely to make a corrective bounce before continuing lower toward 86,100, and possibly 84,500.
These levels represent key demand zones where buyers may attempt a reaction.
You may find more details in the chart,
Trade wisely best of luck buddies.
BTC
87,851.56
-0.04%