BTC Current Market Analysis
As the "bear leader" predicting a downturn in the global economy, today’s BTC market is worth analyzing. Whether you are bearish or bullish, even if you may disagree with my future market judgment, some key support and resistance levels can serve as references for both bears and bulls.
Currently, BTC has seen a slight pullback when facing the resistance level of 100,000 USD. The key point to watch next is whether BTC can hold above 95,000 USD at the daily close. If today’s closing price can recover above 95,000 USD, it indicates that the daily bulls still dominate, and BTC is likely to continue challenging the upward targets of 100,000 USD and even 108,000 USD.
However, if the daily close fails to reclaim 95,000 USD, it suggests that the trend may shift, and the daily sentiment may turn from bullish to bearish, potentially leading to further retracement, testing the support levels near the 20-day EMA, which are 88,500 USD and 81,600 USD respectively.
Therefore, whether today’s closing price can effectively rebound above 95,000 USD will be the key to judging the future market trend. Personally, I tend to believe that if it cannot reclaim 95,000 USD, BTC may further retrace to 88,500 USD or even 81,600 USD, such a pullback would be a healthier adjustment for the market.
