$BTC
Three weeks, ten attempts to break lower, and sellers still haven’t managed a sustained breakdown.
That’s what stands out to me here.
Compare this with the move towards $60K a few months ago. Back then, it only took a few attempts for supports to give way and entire ranges to break down.
Now we’re less than 10% below the range highs, and sellers are putting in much more effort for much less downside.
I still think a pullback into the $70Ks to form a higher low is possible. But that doesn’t change how different this market looks compared to the previous selloff.
At some point, you have to ask why repeated tests of support keep failing to produce the same downside momentum.
Personally, I find that encouraging.
If buyers keep defending this range, I’m not ready to assume they’ll suddenly disappear when price moves lower.
#BTC #Binance
Three weeks, ten attempts to break lower, and sellers still haven’t managed a sustained breakdown.
That’s what stands out to me here.
Compare this with the move towards $60K a few months ago. Back then, it only took a few attempts for supports to give way and entire ranges to break down.
Now we’re less than 10% below the range highs, and sellers are putting in much more effort for much less downside.
I still think a pullback into the $70Ks to form a higher low is possible. But that doesn’t change how different this market looks compared to the previous selloff.
At some point, you have to ask why repeated tests of support keep failing to produce the same downside momentum.
Personally, I find that encouraging.
If buyers keep defending this range, I’m not ready to assume they’ll suddenly disappear when price moves lower.
#BTC #Binance