BTC: first signs of a slow reversal?

The 89,256 level has slowed down Bitcoin’s decline.

Hello, traders and investors!

This analysis is based on the Initiative Analysis (IA) method.

First, price interacted with the level through a buyer candle with strong volume, and then again through a seller candle with declining volume on the daily timeframe.

On the 2-hour timeframe, the second interaction with this level turned out to be a manipulation of the lower boundary of the range that has formed on 2H.
The target of that manipulation has already been reached, but we may still see price move toward 93,836.

Reaching this level would be a good signal that at least a temporary pause in the downtrend is forming — and possibly the early stage of a reversal, although likely a slow one.


Wishing you profitable trades!