$BTC just lost $79,500 support after holding it for weeks. Multiple tests, finally broke.
Now trading ~$78K with a wick down to $76,371 on the 4H.
The issue: $79,500 is now resistance. Former support flipped. Bulls need to reclaim it fast or we're looking at more downside.
Reclaim $79,500 → relief rally to $81K possible.
Stay below → next leg down in play.
Bigger resistance: $83,500 and $87,000.
4H structure is weak. Bulls need to act now or this bleeds further.
Now trading ~$78K with a wick down to $76,371 on the 4H.
The issue: $79,500 is now resistance. Former support flipped. Bulls need to reclaim it fast or we're looking at more downside.
Reclaim $79,500 → relief rally to $81K possible.
Stay below → next leg down in play.
Bigger resistance: $83,500 and $87,000.
4H structure is weak. Bulls need to act now or this bleeds further.