10 attempts to break $BTC lower in three weeks — and sellers still couldn't do it.
That's what stands out here.
Compare it with the move toward $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.
A pullback into the $70Ks to form a higher low is still 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.
That's what stands out here.
Compare it with the move toward $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.
A pullback into the $70Ks to form a higher low is still 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.