[Analysis] "Bitcoin short-term weakness… Weekly close recovery to $85,000 is key"

Uk Jin

Summary

"An analyst said Bitcoin (BTC) has recently been showing a short-term bearish trend."
"He said that if the weekly upper $85,000~$86,000 is recovered, it can be regarded as a short-term rebound signal."
"He analyzed that if a rebound is confirmed, there is a possibility of rising again to the $97,000 liquidity cluster."

Bitcoin (BTC) has continued a short-term bearish trend over the past week, making lower highs, and an analysis said that finding a clear bottom signal is important.

On the 22nd (Korean time), crypto asset (cryptocurrency) analyst Dan Crypto said on X (formerly Twitter), "Bitcoin is forming continuously lower highs amid a gradual correction and is under structural pressure," and "In this process, a large liquidity cluster appears to have formed around $97,000."

The analyst argued that if a short-term rebound signal is found, recovery to the $97,000 level is possible. He said, "On a weekly basis, if the upper $85,000∼$86,000 is recovered, a short-term rebound signal can be confirmed," and "In that case, it can rise again to the $97,000 liquidity accumulation zone."

BTC