Bitcoin is testing the lower bound of its established bidirectional structure. After failing to regain the central pivot point around $88,900, it is currently trading near the support zone of $82,000-$80,000. Key levels to watch are the minor support area of $82,170-$83,454 and the rebound zone of $84,492-$87,000. If Bitcoin's price continues to break below $80,000, it could indicate that it is entering a new structural phase.
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Bitcoin is testing the lower bound of its established bidirectional structure. After failing to regain the central pivot point around $88,900, it is currently trading near the support zone of $82,000-$80,000. Key levels to watch are the minor support area of $82,170-$83,454 and the rebound zone of $84,492-$87,000. If Bitcoin's price continues to break below $80,000, it could indicate that it is entering a new structural phase.