Bitcoin (BTCUSD) is currently traded around 86578.13, moving within a consolidation phase after a strong rally earlier this year. The price is hovering around a key level, struggling to break higher while holding above critical support at 82398.14. The broader trend remains bullish, but recent price action suggests a loss of upward momentum.
BTCUSD oscillates in a channel between 82398.14 (support) and 98611.30 (resistance). The price has been testing the 86578.13 level, which acts as a pivotal zone for direction confirmation. The 50-week moving average remains below the price, supporting the long-term bullish bias, but the recent sideways movement raises caution for near-term traders.
The MACD indicator shows declining momentum, with the histogram printing lower bars, indicating weakening bullish strength. If BTCUSD fails to continue to rally above 86578.13 convincingly, a retest of 82398.14 support is likely to occur again.
Market Observation & Strategy Advice:
1. Key Resistance Level: 98611.30 – A breakout above this level may trigger further upside movement.
2. Current Position: BTCUSD is testing a key level that could determine its next direction.
3. Support Level: 82398.14 – If BTCUSD loses this level, a deeper correction may follow.
4. Momentum Indicator: MACD shows a loss of bullish momentum, signaling potential consolidation or retracement.
5. Trading Strategy:
Market Performance:
Crypto Last Price % Change
ETHUSD 1.825,2 +1,66%
LTCUSD 82.54 −3.91%
Today’s Key Economic Calendar:
AU: Balance of Trade
CA: Balance of Trade
US: ISM Service PMI
Risk Disclaimer: This report is for informational purposes only and does not constitute financial advice. All investments involve risk and past performance is no guarantee of future results. Please consult your financial advisor for personalized investment advice.
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