Bitcoin is pulling back โ but is the bull move over? ๐
$BTC is trading around $84K today after recently reaching the $86Kโ$87K area.
The pullback is important, but I don't think one red day is enough to determine the next major trend.
Here are the 3 scenarios I'm watching:
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#Bullish_Scenario If BTC can reclaim the $86Kโ$87K area with strong volume, the recent recovery could continue.
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#Neutral_Cenario BTC may consolidate between support and resistance before choosing its next direction.
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#Bearish_Scenario A clear loss of nearby support, especially with increasing selling volume, could open the door to a deeper correction.
One thing to watch closely: macro conditions. Expectations for further Fed rate hikes have increased, which can put pressure on risk assets such as crypto.
My view: don't focus on predicting the exact next candle. Watch how price reacts at important levels and wait for confirmation.
What are you watching right now โ
#BTC ,
$ETH or
$SOL ? ๐