Stock Market LIVE Updates, Sensex Today: Markets Likely To Open Flat, Asian Shares Trade Lower

Harish Vatnani, Head of Trade, ZebPayThe BTC/USDT pair on the daily timeframe is showing signs of short-term bearish momentum following a strong bullish rally from the $62,000-$67,000 accumulation zone toward the $87,000 resistance area. After breaking above the previous consolidation range, Bitcoin experienced a sharp upward move supported by increased trading volume, indicating strong buying interest. However, price faced rejection near $87,000 and subsequently entered a consolidation phase between approximately $80,500 and $84,000. The recent candles show a breakdown below the lower boundary of this range, with BTC currently trading around $79,585, suggesting that sellers have gained short-term control. The loss of the $80,500-$81,000 support zone is a bearish development, particularly as price is now trading below the previously marked support around $82,200-$82,500, which may act as resistance during any recovery attempt. On the downside, the immediate support area lies around $78,500-$79,000, followed by the psychological $77,000 level and the stronger demand zone around $76,000-$76,500. If selling pressure continues and BTC fails to reclaim the broken range, the price could potentially move toward these lower support levels. On the upside, BTC needs to recover and sustain above $80,500-$81,000 to indicate that the breakdown may be losing momentum, while a stronger bullish recovery would require reclaiming $82,200-$82,500 and then the $84,000 resistance zone. The major overhead resistance remains near $87,000, where the previous rally faced rejection. Overall, the daily chart currently presents a bearish short-term outlook, with a potential continuation of the correction unless buyers successfully reclaim the broken support levels. However, a confirmed daily close below the current support area would strengthen the bearish case, while a strong bullish reversal accompanied by increased buying volume could invalidate the immediate bearish structure."