Bitcoin first formed a double bottom in this area, then surged above the triangle convergence, and retraced to the neckline before achieving a breakout.

Previously, we also mentioned to pay attention to the range of 83,000 to 84,000. After consolidating in this area for a day, it achieved a breakout. After the breakout, it retraced to the upper edge of the triangle convergence and then continued to move upward.

Next, we need to focus on the 86,000 mark for Bitcoin.

Whether it can achieve an effective breakout. If it does, there is a possibility for it to continue moving upward.

Why should we pay attention to the 86,000 mark? Because from the perspective of the 4-hour trend line, looking at the overall upward trend line, it has slightly broken below this level.

However, it retraced to the triangle convergence, and after the breakout, it held at the upper edge position. Therefore, it is highly likely that Bitcoin will consolidate and oscillate within this range. We will then observe its choice after the consolidation and oscillation.

Will it continue to move downward from this point, or will it break through 86,000 and then look at the upper range of 88,000 to 90,000?

At that time, we just need to pay close attention to this; this is the current trend of Bitcoin.

As for the lower side, we need to focus on whether the 83,000 position can hold. Bitcoin is consolidating and oscillating within this range, and we just need to pay attention to its directional choice.

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