Technical analysis by LouisJack66_trade about Symbol BTC: Sell recommendation (23 hour ago)
BTCUSD:Bearish Bias with Consolidation
Today, BTCUSD is in a downtrend - dominated consolidation pattern, trading sideways after failing to hold gains above 89000 and dropping to test the 85000 key support zone. The price dipped to a low of 85055 in the early session then rebounded, with upside momentum curbed by persistent selling pressure and weak risk appetite. Key drivers include EMA50 dynamic resistance, RSI still in a weak range, and institutional caution (ETF outflows), pushing the market into a technical defensive phase where 85000 acts as the bull’s critical short - term lifeline. Core Price Zones： Resistance：88500 - 89000 (intraday first resistance), 90000 (psychological + trend - line resistance), 92000-94000 (mid - term target) Support：85000 - 85500 (Fibonacci 0.786 retracement + dense trading zone), 84000 (intraday low), 80000-82000 (major support cluster) Trading Strategy： Buy 85000 - 85500 SL 84300 TP 86500 - 87500 - 88500 Sell 88500 - 89000 SL 89700 TP 87000 - 86000 - 85000All TP zone hit