Bitcoin has entered an important phase where the market is trying to recover from recent corrections while buyers are slowly stepping back in. After the sharp drop from its all time high near one hundred twenty six thousand, BTC is now trading in a tight zone and showing mixed signals. The current price action is telling us that the market is preparing for its next major move and traders on Gate.io are watching these levels very closely.
During the recent sessions, Bitcoin attempted a recovery and moved toward the ninety four thousand zone, but the momentum was not strong enough to break that resistance. This area remains the biggest barrier for bulls in the short term. On the downside, the eighty six thousand level is acting as a strong support and it is a point where buyers previously stepped in to stop further decline. Until BTC stays above this zone, the market can avoid a deeper selloff.
The overall sentiment is neutral to slightly bullish, but volume is still lower than expected. This indicates that traders are waiting for a clear breakout before taking large positions. Macro factors like interest rates, global liquidity and overall risk sentiment are also playing a major role in shaping Bitcoin movement.
Here are the key levels for this month.
Support one. Eighty six thousand. Support two. Eighty thousand. Resistance one. Ninety four thousand. Resistance two. One hundred thousand.
If Bitcoin breaks above ninety four thousand with strong volume, it can move toward one hundred thousand before the month ends. This would show the return of confidence and could attract fresh buying from Gate.io traders. But if BTC fails to break this resistance and volume stays weak, we may see sideways movement between eighty eight thousand and ninety four thousand for the rest of the month.
A bearish scenario only becomes active if BTC falls below eighty six thousand. In that case the price can slide toward eighty thousand, which is the next major support. This outcome is less likely but still possible if market sentiment turns negative.
My personal expectation is that Bitcoin will remain in a range with a slightly bullish bias. If momentum improves, a push toward ninety six thousand to one hundred thousand is possible before month end
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Bitcoin has entered an important phase where the market is trying to recover from recent corrections while buyers are slowly stepping back in. After the sharp drop from its all time high near one hundred twenty six thousand, BTC is now trading in a tight zone and showing mixed signals. The current price action is telling us that the market is preparing for its next major move and traders on Gate.io are watching these levels very closely.
During the recent sessions, Bitcoin attempted a recovery and moved toward the ninety four thousand zone, but the momentum was not strong enough to break that resistance. This area remains the biggest barrier for bulls in the short term. On the downside, the eighty six thousand level is acting as a strong support and it is a point where buyers previously stepped in to stop further decline. Until BTC stays above this zone, the market can avoid a deeper selloff.
The overall sentiment is neutral to slightly bullish, but volume is still lower than expected. This indicates that traders are waiting for a clear breakout before taking large positions. Macro factors like interest rates, global liquidity and overall risk sentiment are also playing a major role in shaping Bitcoin movement.
Here are the key levels for this month.
Support one. Eighty six thousand.
Support two. Eighty thousand.
Resistance one. Ninety four thousand.
Resistance two. One hundred thousand.
If Bitcoin breaks above ninety four thousand with strong volume, it can move toward one hundred thousand before the month ends. This would show the return of confidence and could attract fresh buying from Gate.io traders. But if BTC fails to break this resistance and volume stays weak, we may see sideways movement between eighty eight thousand and ninety four thousand for the rest of the month.
A bearish scenario only becomes active if BTC falls below eighty six thousand. In that case the price can slide toward eighty thousand, which is the next major support. This outcome is less likely but still possible if market sentiment turns negative.
My personal expectation is that Bitcoin will remain in a range with a slightly bullish bias. If momentum improves, a push toward ninety six thousand to one hundred thousand is possible before month end