đ„ THE $62K TEST IS IN. NOW I'M WATCHING BITCOIN'S SECOND MAJOR REVERSAL.
And my bigger target?
$80,000+
Here's why I'm paying attention.
On November 9, when BTC was trading around $74,280, my view was that the bearish move could extend below $63K before a much bigger reversal setup emerged.
BTC eventually printed $62,006.
Now, in my November 15 chart snapshot, price has bounced to around $64,712.
But I don't see this as just another short-lived bounce.
I believe Bitcoin could be setting up for its SECOND MAJOR REVERSAL.
I've been watching this structure develop for days. The bearish leg has played out; now I'm watching whether the market can turn that pressure into sustained bullish momentum.
THE BIGGER PICTURE
đŻ $62K â The level I want to see hold.
⥠$65.3Kâ$65.4K â First resistance to reclaim.
đ $70.26K â Daily MA(7), my next major confirmation area.
đ $80K+ â My bigger upside target.
My expectation is that, if this reversal gets confirmed, bullish momentum could last 10 days or more.
But there's a risk too.
A sustained breakdown below $62K would weaken this thesis significantly. The next major downside area I'm watching is around $58K.
I'm not looking for a tiny bounce. I'm watching for a much bigger change in Bitcoin's direction.
đ NOW I'M INTERESTED IN YOUR VIEW:
Will BTC reclaim $70K and open the path towards $80K+, or will the market test $58K first?
#Bitcoin #BTC #CryptoAnalysis #MarketLens #Binance
$BTC
And my bigger target?
$80,000+
Here's why I'm paying attention.
On November 9, when BTC was trading around $74,280, my view was that the bearish move could extend below $63K before a much bigger reversal setup emerged.
BTC eventually printed $62,006.
Now, in my November 15 chart snapshot, price has bounced to around $64,712.
But I don't see this as just another short-lived bounce.
I believe Bitcoin could be setting up for its SECOND MAJOR REVERSAL.
I've been watching this structure develop for days. The bearish leg has played out; now I'm watching whether the market can turn that pressure into sustained bullish momentum.
THE BIGGER PICTURE
đŻ $62K â The level I want to see hold.
⥠$65.3Kâ$65.4K â First resistance to reclaim.
đ $70.26K â Daily MA(7), my next major confirmation area.
đ $80K+ â My bigger upside target.
My expectation is that, if this reversal gets confirmed, bullish momentum could last 10 days or more.
But there's a risk too.
A sustained breakdown below $62K would weaken this thesis significantly. The next major downside area I'm watching is around $58K.
I'm not looking for a tiny bounce. I'm watching for a much bigger change in Bitcoin's direction.
đ NOW I'M INTERESTED IN YOUR VIEW:
Will BTC reclaim $70K and open the path towards $80K+, or will the market test $58K first?
#Bitcoin #BTC #CryptoAnalysis #MarketLens #Binance
$BTC
