$BTC The Bitcoin currency dropped after negative news, which was also due to the rise in gold and the pressure on Bitcoin liquidity caused by FOMO (fear of missing out) currently affecting gold and silver. Liquidity is low in the market, which is waiting for any movement from the American markets.
However, it is very likely that a recovery will occur before the opening of the American markets. We may see movement with the opening of the Asian markets, but currently, Bitcoin is in accumulation zones.
As we see, Bitcoin could return to 86,000 tomorrow, and perhaps even lower than that, as it is the beginning of the week, so anything is possible. However, I foresee a negative movement.
Breaking the level of 86,450 would be negative, but as long as Bitcoin is above 87,150, the chances of a rebound are high, and it may bounce back again. Therefore, the American and Asian markets are closed.
When the Asian markets open, we may witness sideways movement, or we may see the opposite. So, anything is possible. Currently, Bitcoin is trading in the range of 87,450.
We expect Bitcoin's price to range between 85,000 and 80,000. The reason is the large gap between 88,750 and 80,000. Not breaking through this level means that the bullish movement's failure, which is considered a retest, could lead to a very sharp decline, similar to what happened a few weeks ago when Bitcoin collapsed.
In any case, a corrective decline to 86,450 or lower is expected. The best rebound zones currently are 85,350 and 84,450.
