BTCUSD is currently trading around $83,232, showing signs of consolidation near a key support zone. The price is hovering around the 83,300 level, which aligns with previous resistance turned support.Key Observations:
Bullish Momentum: The price has recently broken above a key resistance zone and is attempting to hold above the 83,300 level.
Moving Averages: The short-term moving averages (red & green lines) are currently acting as dynamic support. Meanwhile, the black trendline (likely 200-MA) is sloping downward, indicating that the larger trend is still uncertain.
Support Levels: The next immediate support lies around 82,960 - 83,000, followed by a stronger demand zone near 82,550.
Resistance Levels: Bitcoin needs to break above the 83,400 - 83,600 range to continue its upward momentum toward the 84,000 psychological level.
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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.