BTCUSDT is currently experiencing real weakness and is no longer just a temporary blip. The latest development remains a risk-off sentiment as riskier liquidity has yet to return to the cryptocurrency market, so any bull rallies tend to be sold off quickly. Therefore, the priority over the next 24 hours remains to look for sell trades on the downtrend rather than trying to buy the dip.

Looking at the chart, we notice that the recent strong decline has created a clear technical structure: the price broke out of the equilibrium area and then entered a narrow oscillatory trend. The 86,600 area is nearby resistance as prices will face selling pressure if prices move higher towards this area. On the other hand, the 83,600 area forms nearby support, and a break above this level may lead to an accelerated decline due to the loss of price base.

The most likely scenario is that BTCUSDT rebounds to test 86,600 and then continues to fall, or it consolidates briefly and then falls back to 83,600. Conclusion: As long as the price remains below 86,600, the current rally is viewed as a trend selling opportunity, while buy trades will only make sense once there is a clear return to the uptrend structure.

Source link