$BTC gave back an entire week of gains in about four hours.
Yesterday between 12:00 and 16:00 UTC price slid from ~80.4K to ~76K. The 15:00 candle alone printed ~$513M in volume, the biggest hour of the past 7 days, and closed down almost 3%.
Where it stands now:
• Price: 76,182, −5.4% in 24h
• 24h range: 75,208 – 80,836
• 24h volume: ~$2.0B, roughly double the daily average of the previous six days
• 7d: −1.6%, now trading below the weekly open (77,436) and the 7d average (~77,900)
Since the flush, BTC has been grinding sideways in a tight 75.2K–76.6K box for about 11 hours. That tells me sellers did their damage in one burst, but buyers haven't stepped up with conviction either.
What I'm watching:
– 75.2K is today's low and the 7-day low. Losing it on volume opens the door to fresh weekly lows.
– 77.4K–77.9K (weekly open + 7d average) is the first real test overhead. Reclaiming it would turn this into a shakeout rather than a trend change.
– Volume: a bounce on thin volume after a high-volume dump usually doesn't hold.
Was this the flush before a bounce, or the start of a leg lower?
Not financial advice.
#Bitcoin #BTC #CryptoMarket
Yesterday between 12:00 and 16:00 UTC price slid from ~80.4K to ~76K. The 15:00 candle alone printed ~$513M in volume, the biggest hour of the past 7 days, and closed down almost 3%.
Where it stands now:
• Price: 76,182, −5.4% in 24h
• 24h range: 75,208 – 80,836
• 24h volume: ~$2.0B, roughly double the daily average of the previous six days
• 7d: −1.6%, now trading below the weekly open (77,436) and the 7d average (~77,900)
Since the flush, BTC has been grinding sideways in a tight 75.2K–76.6K box for about 11 hours. That tells me sellers did their damage in one burst, but buyers haven't stepped up with conviction either.
What I'm watching:
– 75.2K is today's low and the 7-day low. Losing it on volume opens the door to fresh weekly lows.
– 77.4K–77.9K (weekly open + 7d average) is the first real test overhead. Reclaiming it would turn this into a shakeout rather than a trend change.
– Volume: a bounce on thin volume after a high-volume dump usually doesn't hold.
Was this the flush before a bounce, or the start of a leg lower?
Not financial advice.
#Bitcoin #BTC #CryptoMarket
