Bitcoin continues to maintain a bearish stall as the price breaks below the nearest support area and is currently accumulating weakly below. The market structure is still in a downward channel, with no obvious signs of reversal.

In the short term, prices are likely to trade within a narrow range around the 83.7K area before continuing to extend the decline to lower targets around the 81.9K mark – which coincides with the market’s recent bottom and strong reaction area.

The main scenario remains to prioritize selling when the price reaches the aforementioned resistance area and refuses to rise again.

Source link