The big pancake has fallen below 65,000 again. It was moving downward this morning—could this time be different? $BTC
I checked the chart this morning, and 65,000 still couldn’t hold. What’s different from the previous few times is that after the price dropped through, the rebound strength was noticeably weaker than before.
The 65,000 level recently feels like a defense line that’s being tested over and over. After the first break, it quickly regained. After the second time touched that area, it rebounded again. But this time the situation is somewhat different.
In the early-session move, it went straight down to around 64,500. Trading volume didn’t expand meaningfully, but buy-side demand also wasn’t particularly active. The market has fallen into a kind of stalemate at this level—both bulls and bears are waiting for a clear signal.
This spot is very delicate. If this is a normal pullback, the price shouldn’t stay here for too long; after the European and U.S. session opens, you should be able to see some follow-through strength. But if weakness continues into the evening and trading volume starts to increase, then 65,000 might not be the endpoint of this correction.
The market rhythm now is a bit different from the earlier rounds. Each time it probes an important level, the rebound strength is weaker than before, suggesting that overhead pressure is gradually building up. In this situation, for friends who already hold positions, just make sure to hold your own bottom line.
When you don’t understand what’s going on, the best response is not to respond. The market will find its own direction.
I checked the chart this morning, and 65,000 still couldn’t hold. What’s different from the previous few times is that after the price dropped through, the rebound strength was noticeably weaker than before.
The 65,000 level recently feels like a defense line that’s being tested over and over. After the first break, it quickly regained. After the second time touched that area, it rebounded again. But this time the situation is somewhat different.
In the early-session move, it went straight down to around 64,500. Trading volume didn’t expand meaningfully, but buy-side demand also wasn’t particularly active. The market has fallen into a kind of stalemate at this level—both bulls and bears are waiting for a clear signal.
This spot is very delicate. If this is a normal pullback, the price shouldn’t stay here for too long; after the European and U.S. session opens, you should be able to see some follow-through strength. But if weakness continues into the evening and trading volume starts to increase, then 65,000 might not be the endpoint of this correction.
The market rhythm now is a bit different from the earlier rounds. Each time it probes an important level, the rebound strength is weaker than before, suggesting that overhead pressure is gradually building up. In this situation, for friends who already hold positions, just make sure to hold your own bottom line.
When you don’t understand what’s going on, the best response is not to respond. The market will find its own direction.