Bitcoin is currently trading near $78,828, struggling to maintain bullish momentum after a sharp retrace from the $85K region.
๐ธ Key Support Zone at $77.5K:
BTC is sitting on a short-term critical support at $77.5K. Holding this level could provide a short relief bounce.
However, a confirmed breakdown below $77.5K will likely accelerate the downside pressure.
๐ธ Next Support Levels:
If $77.5K breaks:
$74K โ $72K becomes the next key zone
Below that, $66K โ $60K might act as mid-level supports
In a worst-case bearish scenario, $55K โ $50K could be targeted
๐ธ Risk Level at $72K:
Losing $72K with volume would invalidate bullish structure and increase the risk of a deeper correction.
๐ธ Bullish Recovery Needs:
BTC must reclaim and sustain above $80K, then $85K
Clean break above $85K could restart the bullish rally toward $90K+
๐ธ Action Plan:
Watch $77.5K closely for reaction
Breakdown = prepare for $72K test
Bounce = potential retest of $80K-
83K
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.