• bitcoinBitcoin (BTC) $ 70,410.00
  • ethereumEthereum (ETH) $ 2,151.64
  • tetherTether (USDT) $ 0.999732
  • xrpXRP (XRP) $ 1.44
  • bnbBNB (BNB) $ 641.40
  • usd-coinUSDC (USDC) $ 0.999922
  • solanaSolana (SOL) $ 89.82
  • tronTRON (TRX) $ 0.310674
  • staked-etherLido Staked Ether (STETH) $ 2,265.05
  • figure-helocFigure Heloc (FIGR_HELOC) $ 1.00

Bitcoin bull run ‘might actually be over’ as Wyckoff pattern points to $86K

The oft-cited Wyckoff pattern suggests that Bitcoin price could be headed toward $86,000 next, especially if BTC fails to hold $94,000, which is the average cost basis of six to 12-month Bitcoin holders.

🔗 Source

💡 DMK Insight

Bitcoin’s current price at $94,829 is precariously close to a critical support level. The Wyckoff pattern indicates a potential drop to $86,000 if BTC can’t maintain above $94,000, which is significant as it represents the average cost basis for long-term holders. If we see a breach below this level, it could trigger a wave of selling from those who bought in at higher prices, amplifying downward momentum. Traders should keep an eye on volume trends; a spike in selling volume could confirm this bearish scenario. On the flip side, if Bitcoin manages to hold above $94,000, it might attract buyers looking for a bounce, potentially leading to a retest of recent highs. Watch for key resistance around $100,000 as a psychological barrier that could dictate short-term trading strategies. The next few days will be crucial, so monitor these levels closely.

📮 Takeaway

Watch for Bitcoin to hold above $94,000; a drop below could signal a move towards $86,000, triggering potential selling pressure.

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