Bitcoin's recent performance has indeed been less strong than expected.



According to previous analysis, the 86700 level is a key support, and the rebound space once broke through $1600. However, from yesterday to today, the rebound strength at this level has been diminishing, which usually indicates that the bulls' energy is gradually being exhausted.

The next trading strategy is as follows: if 86700 is not effectively broken and the price recovers here, then continue to go long on the rebound. But once this support is truly broken, it’s time to look downward, and the new support zone could be between 85000 and 84000.

More importantly, there is a critical threshold near 89700 on the four-hour chart. This is a very key resistance level, and it’s necessary to see whether Bitcoin can break above it strongly. The performance at this level will largely determine the subsequent direction.
BTC-0.16%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
down_only_larryvip
· 6h ago
86700 this level is really fragile, the rebound is weaker and weaker, it feels like the bulls are just a fleeting moment If it breaks below, it's game over; it depends on whether it can hold 89700 is the real watershed; if it can't break above, it will have to keep looking downward
View OriginalReply0
0xInsomniavip
· 6h ago
I see the signal of weakening rebound strength, it's a bit uncertain. If the barrier at 86700 can't be held, will it drop directly to 84000? 89700 is the real watershed; if it can't break through, it might just consolidate sideways.
View OriginalReply0
StablecoinAnxietyvip
· 6h ago
If 86,700 isn't maintained any longer, I'll go straight for a short position. Anyway, the bulls are losing momentum.
View OriginalReply0
BearMarketSurvivorvip
· 6h ago
As long as 86,700 isn't broken, it will keep bouncing back; once it's broken, it will continue to fall. I'm too familiar with this pattern.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)