$BTC
#BTCUSDT is up 7 today and trading near 76,780 after a solid recovery from the 71,132 low
Price is now pushing back into the 79,500 resistance area which is the first level that really matters here
The nearest support sits around 75,000 to 74,000
If that fails the next zones to watch are 72,000 and then 71,000
The structure looks like a recovery bounce for now and it could be forming a base after the recent pullback
Traders should watch whether price can hold above 75,000 and turn 79,500 into a breakout level because rejection there could still send it back into the 72,000 zone
On the upside a clean break above 79,500 could open room toward 84,000 and possibly 88,000 to 92,000 if momentum stays strong
Order book shows 60 percent longs and 40 percent shorts which is bullish skewed
7 day gain is 21 percent showing strong short term momentum
Yearly trend is down 32 percent so treat this as a bounce until proven otherwise
Volume is strong at 3.24 billion USDT supporting the move.
#BTCUSDT is up 7 today and trading near 76,780 after a solid recovery from the 71,132 low
Price is now pushing back into the 79,500 resistance area which is the first level that really matters here
The nearest support sits around 75,000 to 74,000
If that fails the next zones to watch are 72,000 and then 71,000
The structure looks like a recovery bounce for now and it could be forming a base after the recent pullback
Traders should watch whether price can hold above 75,000 and turn 79,500 into a breakout level because rejection there could still send it back into the 72,000 zone
On the upside a clean break above 79,500 could open room toward 84,000 and possibly 88,000 to 92,000 if momentum stays strong
Order book shows 60 percent longs and 40 percent shorts which is bullish skewed
7 day gain is 21 percent showing strong short term momentum
Yearly trend is down 32 percent so treat this as a bounce until proven otherwise
Volume is strong at 3.24 billion USDT supporting the move.