Hafeez Ullah Kakar

The BTC/USDT daily chart is showing some serious action today. After a strong run, we're seeing a significant pullback. Let's break down what the charts are telling us.
🔍 Key Observations from the Chart:
Sharp Correction: Bitcoin has dropped -5.38% today, with the price currently hovering around $91,554. The daily low hit $86,630, a crucial level for traders to watch.
Key Support Zone: The area around $86,630 and the gray support zone on the chart is the most important battleground right now. If bulls can defend this level, we might see a bounce.
Immediate Resistance: On the way up, the first major hurdle is the $93,500 price level. We need to reclaim this to turn the short-term sentiment bullish again.
The Big Picture: Despite today's red candle, the overall trend arrow on the chart still points up. This suggests the long-term bullish structure might still be intact. That long-term target near $138,480 is still on the radar for many bulls.
📊 What's the Play?
Bullish Scenario ✅: If we find strong support at the $86,600 zone and start forming higher lows, it could be a healthy consolidation before the next leg up. Look for a confirmed bounce above $90,000 as an early sign.
Bearish Scenario ❌: If the $86,630 support fails to hold, we could see further downside. The next logical support levels would need to be identified on lower timeframes.
What do you think? Is this a classic "buy the dip" opportunity, or is this the start of a deeper correction? Share your analysis and targets in the comments below! 👇