4hr chart looks mildly bearish right now.
$BTC retested the prior high near $87,300 and got sharply rejected. Price made a comparable high while 4hr RSI printed a lower high — classic bearish divergence.
The bounce has stalled around $84,600, keeping $BTC below the immediate recovery zone at $85,000–$85,500.
That said, recent liquidation data shows roughly $15.4M in BTC longs wiped versus only $6.6M in shorts over the last 20 hours. Some of the excessive long leverage has already been flushed, which slightly lowers the odds of an immediate cascading drop.
Stay disciplined. Watch those levels.
$BTC retested the prior high near $87,300 and got sharply rejected. Price made a comparable high while 4hr RSI printed a lower high — classic bearish divergence.
The bounce has stalled around $84,600, keeping $BTC below the immediate recovery zone at $85,000–$85,500.
That said, recent liquidation data shows roughly $15.4M in BTC longs wiped versus only $6.6M in shorts over the last 20 hours. Some of the excessive long leverage has already been flushed, which slightly lowers the odds of an immediate cascading drop.
Stay disciplined. Watch those levels.
