Bitcoin’s Intraday Pullback :
Key Levels and Next Bounce Predictions"
#CryptoMarketMoves #BTC☀ #Write2Earn! #bitcoin☀️
Overview :
Bitcoin (BTC) is currently experiencing a pullback, dipping to a 24% Fibonacci retracement level from the November 4th lows to November 22nd highs. Technical indicators, including the daily RSI, suggest that further declines below $93,500 are possible, with the next major support at $87,296.
Key Levels to Watch :
Resistance Levels :
Immediate : $93,500 (critical to reclaim for bullish momentum).
Next Major : $97,000 (short-term recovery target).
Support Zones :
$87,296 (likely bounce point if bearish momentum continues)
Technical Insights :
The daily RSI indicates oversold conditions but hasn't shown a clear reversal signal.
BTC's reaction at $93,500 will be critical in determining the short-term trend.
Pro-Tip for Investors :
Short-Term Traders :
Watch for a bullish RSI divergence around $87,296, which could signal a potential rebound. Avoid entering positions until confirmation of a bounce.
Long-Term Investors :
Consider accumulating at $87,296 if BTC demonstrates strong support, keeping an eye on macroeconomic factors.
Advice :
Tighten stop-losses on open positions to protect against further downside.
Avoid FOMO during minor recoveries unless BTC reclaims key levels like $93,500 with strong volume.
Conclusion :
BTC’s current retracement presents both risk and opportunity. While a further slide to $87,296 is plausible, this level could act as a springboard for the next upward move. Patience and adherence to technical levels are essential in navigating this corrective phase.
