BITCOIN - The downward trend may continue. Focus on 88K
$BTC /USDT failed to realize its bullish potential associated with positive news. Is crypto winter getting closer and closer?
Fundamentally, despite the rate cut and a relatively positive overall backdrop, the market continues to fall. Bears held the 95k resistance and the 90k zone. $BTC is breaking the consolidation support and entering a distribution phase. The decline has been temporarily halted by support at 85,500, and the market may correct to 87,000-88,000 (the break-even zone) before continuing its decline within the current trend. The target the market may strive for is 84K-80K.
Resistance levels: 87,000, 88,000, 90,000
Support levels: 85,560, 83,800, 80,000
If the market continues to lack support or no bullish driver emerges, the $BTC price may fall even lower. I expect a retest of the zone of interest (the support area of the trading range) and a further decline to key levels...
