Adrian
@rezamirahmadi
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As of now, #BTC has broken through the key resistance zone of 83,300 and is currently trading around $84,100, showing strong intraday momentum. This move above the previous upper bound of $83,000 on the hourly chart suggests that bulls have gained short-term control. However, the strength and sustainability of this breakout must still be confirmed.
Caution remains warranted, as there is a potential double top formation forming near the current levels. If the price fails to break and hold above $84,500โ$85,000, this pattern may trigger a local top, increasing the likelihood of a reversal. Confirmation of this pattern would come with a break below $81,800, which would signal weakening bullish momentum.
If the price can hold above $83,300 and consolidate, we may see a shift in the short-term structure, potentially opening the door for a retest of the $85,500 - $86,200 zone. Volume and follow-through in the next few candles will be critical to confirm the move. 0 reply
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