$BTC
at a crossroads - Will 75K hold?
Price is still stuck below the descending trendline on the 8h chart, with 4 clean rejections so far.
The recent flush to 75K was the lowest since August, and it wiped out a lot of leveraged longs on the way down.
Key levels I'm watching:
Upside:
Reclaim of 76,700 to even challenge the structure
78,800 is the bigger ceiling above that
Downside:
If 75K fails, the next real shelf is the FVG + Fib support band at 70,000 - 72,000
Structure is still bearish until we get a close back above that trendline. No need to rush longs here.
Where do you think this flush actually bottoms out? At 75K or do we need to sweep 70K first?
#BTC☀️ #Bitcoin
at a crossroads - Will 75K hold?
Price is still stuck below the descending trendline on the 8h chart, with 4 clean rejections so far.
The recent flush to 75K was the lowest since August, and it wiped out a lot of leveraged longs on the way down.
Key levels I'm watching:
Upside:
Reclaim of 76,700 to even challenge the structure
78,800 is the bigger ceiling above that
Downside:
If 75K fails, the next real shelf is the FVG + Fib support band at 70,000 - 72,000
Structure is still bearish until we get a close back above that trendline. No need to rush longs here.
Where do you think this flush actually bottoms out? At 75K or do we need to sweep 70K first?
#BTC☀️ #Bitcoin
