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tradeCompass: Bitcoin Futures Analysis for Today

Current Market Context for Bitcoin Futures Today

Bitcoin futures are trading at $82,700, with bears in control as long as price remains below $82,800, the Value Area Low (VAL) of today. The bullish threshold will only be activated if Bitcoin reclaims yesterday's VWAP at approximately $83,650. This means that Bitcoin is in bearish territory, but the question is where to enter a potential short trade.

A possible retracement could bring Bitcoin up toward the Point of Control (POC) of today at $83,200, or even $83,300-$83,350, which aligns with today's VWAP and yesterday's VAL at $83,330. If Bitcoin reaches the $83,000-$83,500 zone, it could provide an attractive shorting opportunity. However, price may not necessarily retrace to this zone, so traders might also consider $82,800 as a reference level, which coincides with the March 13th POC.

Bearish Profit Targets for Bitcoin Futures Today

Since Bitcoin has already declined significantly from yesterday's high near $85,000, short positions should have a profit-taking plan. Here are potential target levels for bearish traders:

1. $82,430 - Just above the March 11th Value Area High
2. $81,800 - A cluster of support, including:
   
   • March 11th POC
   • March 9th VAH
   • March 12th VAL
3. $81,940 - Just above the March 13th VWAP (important level to watch for potential buyer interest)
4. $81,245 - The VWAP of March 11th
5. $80,950 - Just above March 13th Value Area Low
6. $80,435 - Just above March 9th VWAP
7. $79,230-$79,060 - Major support cluster, combining:
   
   • March 11th VAL (strong support)
   • March 9th POC

Bullish Scenario (If Bitcoin Moves Above the Bullish Threshold)

If Bitcoin crosses above yesterday's VWAP ($83,650), the bulls take control, with the following upside targets:

1. $84,000 - Just below the VWAP of March 14th
2. $84,325 - A cluster of resistance, including:
   
   • March 13th VAH
   • March 16th POC
3. $84,790 - In line with the March 14th POC and March 16th VAH
4. $85,570 - Just below the March 14th VAH
5. $88,820 - Just below March 7th VAL, marking an important seven-day range resistance

Key Takeaways for Today's Bitcoin Analysis

• Bearish Bias: Bitcoin remains in a bearish structure unless price moves above $83,650.
• Short Entry Considerations: The $83,000-$83,500 range is an ideal short entry area if price retraces. If not, $82,800 remains a relevant level.
• Bearish Profit Targets: Key downside levels include $81,800, $80,950, and $79,230.
• Bullish Breakout Above $83,650: If Bitcoin reclaims this level, bullish momentum could target $84,325, $84,790, and higher.

Trading Guidance for Bitcoin Today

Use tradeCompass as an orientation tool--watch how price reacts at key levels to inform your trading decisions. Some traders use these levels for scalps, while others manage positions with partial profit-taking. Always trade at your own risk and align decisions with your strategy, timeframe, and risk appetite.

For further market insights, visit ForexLive.com.

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THE INFORMATION GIVEN IN THE GROUP ARE OPINIONS, FOR EDUCATIONAL PURPOSES ONLY AND IS NOT FINANCIAL ADVICE.

ALWAYS DO YOUR OWN REASERCH. ALWAYS INVEST AND TRADE AT YOUR RISK ONLY.