Bitcoin trades near the $81,400 support level while bearish momentum builds. The 5-hour chart shows price below the 200-hour moving average and the Ichimoku cloud, and a break under $81,443 could open the way to deeper selling.
Bitcoin is trapped near the $81,400 support, with a current price of about $81,315. That leaves a thin margin between stability and fresh downside risk.
Sellers press below key markers
The recent slide puts Bitcoin below the 200-hour moving average and the Ichimoku cloud, and both now act as resistance. The MACD is sharply negative, which signals sellers are pressing harder.
The 23.6% Fibonacci retracement at $81,443 is the last strong support. A clean break below it opens the door to sharper corrections.
Bear and bull scenarios
In the bearish scenario, an aggressive entry sits at $81,400 on a 5-hour close below $81,443, with a stop at $82,582. Targets run to $77,781, $74,821 and $70,000, and the source rates its confidence as medium.
The bullish scenario carries lower confidence. It calls for an aggressive entry at $81,450 on a bullish candle, with a stop at $80,268 and targets of $84,000, $85,500 and $87,363. Bulls only have the edge above $82,500.
Levels to watch
Support at $81,443 faces resistance at $82,350 to $82,422. The lower Bollinger Band at $80,329 marks the final oversold support zone, and the 200-hour moving average sits at $82,422.
Volatility is high, with ATR near $790, or a roughly 1% swing per candle. Quick pops up to $82,422 have sold off hard, which the source flags as the main bull trap danger.
Source: Investing.com
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