$BTC grinding up the channel but running straight into that 200 EMA at $71.5K — classic resistance setup. What's interesting is the MFI bearish divergence here. Price is climbing but momentum's fading, which usually means we're running out of gas before the top.
Here's the trade: If we punch through $71.5K clean with volume, I'm looking for continuation toward $74K–$75K. That's the bullish scenario and you ride it.
But if we get rejected hard at this level — and the divergence says we might — then we're likely heading back down to channel support around $68K–$68.5K. That's where I'd be watching for a long entry on a bounce.
Right now? Sitting tight. Let the market show its hand at $71.5K. Don't chase into resistance when momentum's already cracking. Wait for the breakout or the pullback, then take the trade with a clear stop.
Here's the trade: If we punch through $71.5K clean with volume, I'm looking for continuation toward $74K–$75K. That's the bullish scenario and you ride it.
But if we get rejected hard at this level — and the divergence says we might — then we're likely heading back down to channel support around $68K–$68.5K. That's where I'd be watching for a long entry on a bounce.
Right now? Sitting tight. Let the market show its hand at $71.5K. Don't chase into resistance when momentum's already cracking. Wait for the breakout or the pullback, then take the trade with a clear stop.