BTC Nears Key Resistance: Will Rally Hold?
2024-11-13

The BTCUSDT chart shows Bitcoin approaching a significant resistance zone around $88,000. After a strong rally, there are signs of consolidation, which could indicate an exhaustion of buying momentum. If Bitcoin fails to break above this resistance, we could see a corrective move targeting the $81,000 support level, a key zone marked by recent price action.

The upward curve suggests initial bullish strength, but if BTC experiences rejection at the resistance, a downside retracement could be likely, aligning with the broader market's need for consolidation after sharp increases. Traders should watch this level closely, as breaking below $81,000 may lead to further declines toward the $75,000 range, where stronger support lies.
