Bitcoin ( $BTC ) is consolidating near $86,747, slightly down -0.21%, at a critical technical inflection point. Price is testing the lower bounds of its range while bullish sentiment remains extremely high at 71% longs** (L.S. Ratio: 2.45). However, it's trading -8.1% below the key MA(50) at $94,409, indicating underlying weakness in the medium-term trend.
š”ļø THE BATTLE FOR BITCOIN:
Ā· Key Support Zone: Holding above $85,261 (24h low) and the psychological $85K level is crucial.
Ā· Strong Bullish Conviction: 71% of traders are long, expecting a bounce. This can be a supportive crowd or a contrarian indicator if support breaks.
Ā· Oversold Bounce Potential: RSI(6) at 36.1 is approaching oversold territory, suggesting a rebound could be near.
Ā· Major Resistance: The MA(50) at $94.4K is the primary hurdle for any recovery.
Bitcoin is at a make-or-break level. Holding support here could fuel a rally towards $94K. Breaking below $85K could trigger a deeper correction.
šÆ FORECAST: LONG ENTRY AT SUPPORT (High Time Frame Play)
For swing traders, this is a potential long entry at a major support zone, targeting a mean reversion bounce to the MA(50).
Ā· Entry Zone: $86,000 - $86,800 (Current support area)
Ā· Ideal Confirmation: A 4H or Daily candle close above $88,000.
Ā· Take Profit 1: $92,267 (First major resistance)
Ā· Take Profit 2: $94,409 (MA50 - Primary Target)
Ā· Stop Loss: $84,500 (A clear break below support)
ā ļø Market Context & Liquidation Heatmap:
The liquidation heatmap shows significant liquidity pools below$85K and above $90K. A drop could trigger cascading liquidations, while a rally could squeeze shorts. The MACD is negative, confirming the short-term downtrend. This is a counter-trend bounce play within a larger consolidation.
When Bitcoin tests major support with such high bullish belief, the reaction is always significant. The next move will dictate the short-term trend for the entire market.
Watch $BTC / USDT at this Critical Level! Follow for Bitcoin Breakout Alerts! šā
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