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Bitcoin Latest Market Analysis + Support and Resistance Levels!!! #BTC $BTC
🚀 Sudden Market Change During Noon: Strong Breakthrough through the bullish candle covering the bearish candle, resistance at 91,500 has become support
Latest Situation:
V-Shaped Reversal: Yesterday (Monday) we were concerned that 91,600 was a false breakout (then dropped to 90,400), but after last night's correction, Bitcoin showed strong resilience again. Not only did it protect the 90,000 level, but it also regained the bearish candle from yesterday during Asian trading hours, and now the price at 91,876 has recorded the highest intra-day level of yesterday.
Structural Shift: 91,500 - 91,600 was previously a pressure zone, but after the effective breakout, it has now become a major internal support level (turned the peak into a trough). This indicates that yesterday's decline was a comprehensive "clean-up" to remove unstable positions.
European Market Outlook: Since the Asian market is very strong, gains are likely to continue during the European market session in the afternoon. As long as the price does not fall back below 91,500, the next target for buyers is to challenge the zone between 92,500 and 93,000.
1. Support and Resistance Levels (Precisely)
Short-term support (1-3 days, internal)
91,400 - 91,600: Immediate support (turned the peak into a trough). Highest pressure point and high yesterday, after the breakout, it became a floor. If not broken upon retest, it signals strong attack.
90,800: Strong internal support. Highest level before the morning rally.
90,000: The key iron bottom. After yesterday's correction, the effectiveness of 90k support has been reaffirmed.
Medium-term support (1-2 weeks, wave)
88,500: Top of the structural box.
86,000: Trendline separator.
84,500: Major bottom.
Short-term resistance (1-3 days)
92,500 - 92,800: Immediate resistance. Platform pressure during last week's decline, also the first profit-taking point for short-term traders.
93,500: Strong resistance. Downtrend line pressure point, also the necessary path to challenge the top again.
94,415: Previous peak resistance (January 6 peak).
Medium-term resistance (1-2 weeks)
96,500: Fibonacci expansion target.
98,000: Psychological barrier before reaching 100,000.
100,000: Major historical level.
2. Comprehensive Analysis and Best Entry Strategies
Overall View: The current price at 91,876 is in the "continuation of the upward wave after cleaning."
Buyers' Strategy: "Fake dip" yesterday fooled sellers, and the current rise is a push to buy. Uptrend is dominant, especially when returning to 91,500.
Sellers' Strategy: Completely avoid selling at the current price. After breaking the main level, momentum is strong. Unless resistance is observed at 93,500, do not take a contrarian stance.