$BTC just showed why chasing vertical candles can be dangerous.
From roughly $64.7K on Aug. 18 to $79.3K on Aug. 21, Bitcoin gained about 22.6% in just three days. That is a serious expansion, not a normal grind higher.
What caught my attention is the speed. A large part of the move was amplified by short covering, while spot Bitcoin ETFs also recorded strong inflows.
That doesn’t automatically make the rally bearish. It simply means I want to see what happens after the forced buying cools down.
For me, the important test is whether $BTC can consolidate above the breakout area instead of immediately giving back a large portion of the move.
I’m not fading Bitcoin here. I’m refusing to FOMO.
Would you rather buy strength now, or wait for the market to prove this breakout can hold?
Visual: BTC 3-day chart showing the breakout, volume and liquidation spike.
$BTC
From roughly $64.7K on Aug. 18 to $79.3K on Aug. 21, Bitcoin gained about 22.6% in just three days. That is a serious expansion, not a normal grind higher.
What caught my attention is the speed. A large part of the move was amplified by short covering, while spot Bitcoin ETFs also recorded strong inflows.
That doesn’t automatically make the rally bearish. It simply means I want to see what happens after the forced buying cools down.
For me, the important test is whether $BTC can consolidate above the breakout area instead of immediately giving back a large portion of the move.
I’m not fading Bitcoin here. I’m refusing to FOMO.
Would you rather buy strength now, or wait for the market to prove this breakout can hold?
Visual: BTC 3-day chart showing the breakout, volume and liquidation spike.
$BTC
