Analyst Ali said on X that Bitcoin failed to break through $87,000 during a recent push higher, with whales taking profits and selling more than 30,000 BTC in the process. He added that the $87,000 level has also marked the upper boundary of a price channel that has capped BTC for more than two weeks. In the near term, Ali said traders should watch the lower end of that channel around $82,500. If Bitcoin falls back to that level and whales begin accumulating again, he said that would serve as his confirmation signal for buying the dip. Under that setup, Ali sees $87,000 as the target for the next rebound. The comments were cited by ChainCatcher in a brief market update focused on whale activity.
According to ChainCatcher, analyst Ali said in a post on X that Bitcoin was rejected at $87,000 during a recent attempt to move higher, while whales took profits and sold more than 30,000 BTC.
Ali said $87,000 also marks the upper boundary of the price channel that has capped BTC for more than two weeks.
He said the market should watch the lower boundary of that channel near $82,500 in the short term. If BTC drops back to that level and whales start accumulating again, Ali said that would be his confirmation signal to consider buying the dip. Under that scenario, he sees $87,000 as the target for the next rebound.
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