BTC fell to 74810 and stopped dropping. Does anyone still dare to say it’s bottomed?
I just finished looking at the 4-hour chart. The price is hovering around 75900.
It did stop falling after hitting a low of 74810, and it’s been moving sideways in the mid-75,000s for the past two days, with volume clearly drying up.
Of course, that could also be because liquidity is thin over the weekend.
But there are two things I don’t like: it’s still below the 4-hour EMA20 (around 76340), and the RSI hasn’t climbed back above 50.
So my take is simple: running out of steam on the way down ≠ ready to move up.
I’m in no rush to buy the dip, and I don’t want to chase a short either.
I’ll sit tight. I’m done checking the charts tonight—going to watch a movie with my kid.
First, let’s see if it can keep holding 75,000, then whether it can get back above around 76300. If it can’t even get above the short-term moving averages, it’s too early to call a bottom.
Do you think this is bottoming out, or just a brief pause after the drop?
$BTC
Not investment advice
#BTC #比特币 #BTCUSDT
I just finished looking at the 4-hour chart. The price is hovering around 75900.
It did stop falling after hitting a low of 74810, and it’s been moving sideways in the mid-75,000s for the past two days, with volume clearly drying up.
Of course, that could also be because liquidity is thin over the weekend.
But there are two things I don’t like: it’s still below the 4-hour EMA20 (around 76340), and the RSI hasn’t climbed back above 50.
So my take is simple: running out of steam on the way down ≠ ready to move up.
I’m in no rush to buy the dip, and I don’t want to chase a short either.
I’ll sit tight. I’m done checking the charts tonight—going to watch a movie with my kid.
First, let’s see if it can keep holding 75,000, then whether it can get back above around 76300. If it can’t even get above the short-term moving averages, it’s too early to call a bottom.
Do you think this is bottoming out, or just a brief pause after the drop?
$BTC
Not investment advice
#BTC #比特币 #BTCUSDT
