Bitcoin broke by $80,000 overnight, reaching a peak of $8.13 million, then fell back to about $79,000. According to Verified Investment, Gareth Soloway, a leading market strategist, the wheel is not enough to confirm a new round of cattle markets, more like a test of resistance.

Intensities range from $80 to $83,000.

According to the article, the recent increase in the number of K-line heights on video shows an increase in the amount of the price being thrown up. At the same time, a trend line that had previously served as a support has been transformed into resistance after having collapsed and returned to be measured.

Soloway believes that the current region of between $80,000 and $83,000 has multiple resistance overlaps, which is also an important reason why Bitcoin has not been able to stand up.

$828.3 million is the focus of observation

He viewed $82.83 million as a key price in the current structure. The reason is that this position corresponds to the height of the previous band. If bitcoin is effectively collected above this level, it means that for the first time, the current trend has developed a higher point.

In its view, this would be an early signal of a possible shift from the bottom to the top, but it could not be considered as having been identified in the cattle market alone. Because more complete trends are reversed, markets need not only higher heights, but also later higher lows.

If you turn back or see $73,000 and $67,000,

For subsequent possible evacuations, the article lists two support areas:

  • $ 7.3 million: Counterpart to more radical take-back locations
  • $6.70 million: more responsive historical and breakthrough regions

According to Soloway, it is not necessary to be overly complex to judge trends, but the core remains to see whether Bitcoin has moved from a “lower, lower” to a “higher, lower” structure.

By the time the analysis was released, bitcoin had not yet been collected above $82.83 million, so whether the trend had really increased has yet to be verified for subsequent price performance.