Bitcoin is stuck in no-man’s land after the recent bounce from the $77K low. The 200 MA (red) is proving to be a stubborn ceiling, with price grinding just below it around $83.6K. Bulls have made progress, but the lack of volume on the bounce suggests they might be running out of gas.
It’s a classic "show me the money" situation – without stronger buying pressure, this could just be a dead-cat bounce. The $85K zone, which should have been support, is now acting like a brick wall. If price can’t reclaim that level soon, the door is wide open for another trip down to $77K.
On the flip side, a clean break above $85K would likely send Bitcoin straight toward $91K – but the bulls need to wake up first. RSI is hovering in neutral territory, reflecting hesitation. The next few days will tell us whether this is just a pit stop before higher prices – or the start of another leg down.
It’s a classic "show me the money" situation – without stronger buying pressure, this could just be a dead-cat bounce. The $85K zone, which should have been support, is now acting like a brick wall. If price can’t reclaim that level soon, the door is wide open for another trip down to $77K.
On the flip side, a clean break above $85K would likely send Bitcoin straight toward $91K – but the bulls need to wake up first. RSI is hovering in neutral territory, reflecting hesitation. The next few days will tell us whether this is just a pit stop before higher prices – or the start of another leg down.
scott.melker@texaswestcapital.com
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
scott.melker@texaswestcapital.com
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.