Currently, the BTC market is clearly in a sideways trend , with the price fluctuating between $83,000 – $86,000, presenting trading opportunities 🤝. Here’s the analysis:
Market data shows BTC has been repeatedly supported around $83,000 recently . Last week, trading volume spiked at this level, signaling strong buying. The KDJ indicator shows oversold conditions, hinting at a potential short – term rebound . However, $86,000 is a tough resistance. Multiple breakout attempts failed, and selling pressure grows near this level . Per the Bollinger Bands, $86,000 is close to the upper band, likely triggering a pullback ⬇️.
Moving Average System: The 5 – day and 10 – day moving averages are intertwined, unable to clearly indicate the trend. Their repeated crossovers show the market is in disorderly fluctuations.
BTCUSD
Sell@85500 – 85000
TP 84000 – 83000
Traders, if you’re fond of this perspective or have your own insights regarding it, feel free to share in the comments. I’m really looking forward to reading your thoughts! 🤗
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