Bitcoin faced a rejection following its recent bullish push. š Price surged but struggled to maintain higher levels, initiating a short-term correction phase. This pullback appears healthy and is a natural occurrence after a strong rally, not a trend breakdown.
Currently, Bitcoin is trending lower but successfully holding above a critical support area. The zone around 86,400 remains a robust support, where buyers are likely to re-enter the market.
As long as this key level holds, the overall market structure remains bullish. Price could attempt another move higher after a period of consolidation. š
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**Key Levels to Watch:**
* Immediate Support: 88,000
* Major Support: 86,400
* Resistance Zone: 89,800 ā 90,600
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**Potential Scenarios:**
šÆ If price holds above 86,400, long positions can be considered upon confirmation. A clean bounce from this support could pave the way back towards the 90,000 zone.
ā ļø A decisive break below 86,400 would signal a deeper correction. Caution is advised, and risk management is crucial at this stage.
This is a normal market pullback after a strong bullish run. Patience and careful risk management are paramount.
$BTC
(BTCUSDT)
