As of now, #BTC has broken through the key resistance zone of 83,300 and is currently trading around $84,100, showing strong intraday momentum. This move above the previous upper bound of $83,000 on the hourly chart suggests that bulls have gained short-term control. However, the strength and sustainability of this breakout must still be confirmed.

Caution remains warranted, as there is a potential double top formation forming near the current levels. If the price fails to break and hold above $84,500–$85,000, this pattern may trigger a local top, increasing the likelihood of a reversal. Confirmation of this pattern would come with a break below $81,800, which would signal weakening bullish momentum.
If the price can hold above $83,300 and consolidate, we may see a shift in the short-term structure, potentially opening the door for a retest of the $85,500 - $86,200 zone. Volume and follow-through in the next few candles will be critical to confirm the move.
On the other hand, if this breakout fails to sustain and price pulls back below $83,300, it could indicate a bull trap, with the previous bearish structure still intact. In that case, short-term support lies around $81,800, with a deeper retracement likely revisiting $79,500.
Strategy update:
While bullish pressure is increasing, it’s still risky to chase longs here without confirmation. If already in a long position, trail stops closely. For aggressive traders, watch for rejection around $84,500–$85,000 for potential short entries, especially if signs of exhaustion appear. Target areas remain between $81,500–$80,000. Stay cautious until price action confirms a clean breakout or a breakdown from this structure.