1. Trend and Price Structure
Short-term Bearish Trend: Bitcoin is currently in a sharp downward move, having broken through several previous support levels. The descending blue trendline is acting as dynamic resistance, keeping the price suppressed.
Current Price Action: BTC is trading around $82,358. After a vertical drop, the price is showing signs of stabilization (minor consolidation) as it attempts to find a local floor.
2. Key Technical Levels
Immediate Resistance: The $84,520 level (Open Daily Line). This is a critical pivot; unless the price reclaims this mark, the bearish momentum remains dominant.
Volume Profile (VPVR): The horizontal volume bars on the right show high activity and "trapped" liquidity around the $87,800 – $88,000 zone. Any recovery to this area will likely face heavy selling pressure.
Support Zone: The price is currently testing the short-term bottom near $81,000 – $82,000. A break below $81,000 could trigger a deeper sell-off toward the $70k range.
3. Market Sentiment
Bears: Currently in full control. The purple boxes (previous supply/demand zones) have been breached and are now acting as overhead resistance.
Bulls: Attempting to catch the falling knife near $81k - $82k, but the recovery is weak, characterized by small green candles and long upper wicks.
Summary: The most likely scenario is a technical bounce toward the $84k resistance before either further consolidation or another leg down to find a stronger floor. There is no clear reversal signal on the 1h timeframe yet.
