Bitcoin futures bearish below $82,800, bullish above $83,650

Bitcoin futures are currently priced at $82,700. The market is leaning bearish as long as Bitcoin stays below $82,800, the day's Value Area Low. A bullish shift could happen if Bitcoin surpasses yesterday's average price level of about $83,650. Traders are watching for a potential price rise. If Bitcoin retraces, it could reach the Point of Control, or POC, at $83,200, or even up to $83,350. This range might present a good opportunity for short trades. However, it's also possible that the price will not climb. In that case, $82,800 is another significant reference point aligned with previous Open and Close values. As Bitcoin has dropped from a high near $85,000, those betting on a decline should have clear targets for profit. Key levels to watch include $81,800, $80,950, and $79,230. On the other hand, if Bitcoin rises above $83,650, it may indicate bullish momentum. Traders will then look at resistance levels around $84,000 and above. Overall, the market is mostly in a bearish state unless Bitcoin crosses the crucial level at $83,650. Traders should monitor key levels closely to make informed decisions. It's advisable to trade cautiously and remain aligned with personal strategies and risk preferences.