Bitcoin is currently in a pullback after reaching overbought levels. The price has dropped from above $91,000 to around $86,900. Key indicators suggest the uptrend may be pausing, but support levels are being tested. This creates a potential buying opportunity on a dip, with clear levels to watch.
Current Market Snapshot
Bitcoin is trading at $86,903, up 0.88% in 24 hours. The price is above the 20-day average ($86,011) but below the 50-day average ($88,125). The RSI is very high at 82.44, which usually means the asset is overbought and might need a cool-down.
Recent Price Action
The price recently hit a high near $91,800 before falling sharply to around $84,500. It has since recovered slightly. This drop on high volume suggests some traders are taking profits. The price is now bouncing between recent lows and highs.
Key Levels to Watch
The recent major low (support) is around $84,571. The recent high (resistance) is near $91,825. For a safer entry, look for a buy near the $85,000 support area. A realistic take-profit target is the next resistance near $86,800-$87,000, from the recent local max.
Trading Strategy for Beginners
Given the overbought RSI and the recent pullback, it’s better to wait for a better price rather than buying now. If the price dips closer to the $85,000 support, it could be a good chance to buy a small amount. Have a plan to sell if it reaches the resistance level near $87,000, or if it breaks below the $84,500 support.
Beginner Recommendations
Advice: hold
Buy Price: 85000 USDT
Sell Price: 86800 USDT
Key metrics
| Price | 86903.8300 USDT |
| 24h Change | 0.88% |
| RSI(14) | 82.44 |
| SMA20 / SMA50 | 86011.19 / 88125.70 |
| Daily Volatility | 2.53% |
| Sentiment | Neutral |
| Risk level | Medium |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
