BTCUSDT is consolidating within an ascending channel after a sharp bounce from lower levels, and the price is currently retracing towards mid-channel support around 88,000–87,000 USDT.
The lower boundary of the channel and horizontal levels at 88,000, 87,013, and 84,584 act as step-down support; as long as candles remain above around 84,500, this will remain a healthy corrective pullback in the short-term uptrend.
Below that, key higher-timeframe supports near 80,550, and 76,200 are the next demand zones where a deeper flush could still maintain the larger bullish structure.
The price drops towards the lower channel area, finds support, and then rotates higher for another leg up, with the green zone around 94,000–95,000 being the first major resistance on the way back towards the large grey supply above 100,000.
DYOR | NFA
The lower boundary of the channel and horizontal levels at 88,000, 87,013, and 84,584 act as step-down support; as long as candles remain above around 84,500, this will remain a healthy corrective pullback in the short-term uptrend.
Below that, key higher-timeframe supports near 80,550, and 76,200 are the next demand zones where a deeper flush could still maintain the larger bullish structure.
The price drops towards the lower channel area, finds support, and then rotates higher for another leg up, with the green zone around 94,000–95,000 being the first major resistance on the way back towards the large grey supply above 100,000.
DYOR | NFA
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