BTCUSD.P, Binance FuturesThe BTC price has shown a strong rebound today from the 85,000 USD level and is currently moving around the 87,350 USD zone.
Key Levels and Trading Opportunities
Support Zones:
85,000 USD: The most recent local low and a zone of buying interest.
76,500 - 75,000 USD: Additional support zone in case of a deeper pullback.
58,800 USD: Long-term support and a significant pivot point.
Resistance Levels:
90,000 USD: The first major resistance during the local uptrend.
99,500 USD: Upper channel boundary and previous resistance zone.
109,800 USD: The key level required to maintain the medium-term bullish trend.
Short-Term Analysis
According to the hourly chart, the BTC price has bounced from the 85,000 USD level, where significant buying pressure was observed. If the 87,000 - 88,000 USD zone is broken, the next target will be 90,000 USD. Sustained buying pressure could push the price towards 99,500 USD.
If the price falls back below 85,000 USD, it could trigger another decline.
Reaching the 76,500 - 75,000 USD zone may provoke further buying reactions, but a breakdown could also jeopardize this support level.
The focus remains on price reactions around 90,000 USD and 99,500 USD resistance zones to assess further movements.