Wow, $BTC this time isn't a normal pullback. The lower edge of the triangle has been hit—tapped once already.
Ahead, the price kept repeatedly pushing up through 65000—65500 but failed to hold, and sell pressure was persistent overhead. In the end it was directly smashed back from the high around 64300. The bulls' short-term momentum was clearly pressed down with a kick.
Now the 4-hour chart is still converging into a triangular structure. The real key isn't how much this bearish candle dropped, but whether the underlying rising trendline can still hold.
For the short term, watch 63800—64000. If this area holds, it means the triangle hasn't broken yet, and there may still be incoming capital to push the price. Then there's a chance to retest and rebound toward 64800; if it's stronger, it may even challenge the 65200 area again.
If 63800 is really broken down with volume, the structure changes. Then you need to keep defending further downside toward 63000, even around 62500 for a pullback.
Also, don't automatically call it a breakout just because it rebounds. Until the 65000—65500 zone of trapped supply hasn't been absorbed, any push upward is still likely to get hammered back.
This kind of converging range order is most prone to sweep both sides. Looking long today and short tomorrow isn't meaningful. First, wait to see which side of the triangle truly breaks.
This type of spike-and-reversal most easily disrupts the rhythm. The up and down moves aren't hard to see—what's hard is, once the market regime changes, you still keep using the same playbook. If you can't make sense of it, come find Luoshen $ETH #贝莱德加拿大推出比特币关联ETF #BTC走势分析 .
Ahead, the price kept repeatedly pushing up through 65000—65500 but failed to hold, and sell pressure was persistent overhead. In the end it was directly smashed back from the high around 64300. The bulls' short-term momentum was clearly pressed down with a kick.
Now the 4-hour chart is still converging into a triangular structure. The real key isn't how much this bearish candle dropped, but whether the underlying rising trendline can still hold.
For the short term, watch 63800—64000. If this area holds, it means the triangle hasn't broken yet, and there may still be incoming capital to push the price. Then there's a chance to retest and rebound toward 64800; if it's stronger, it may even challenge the 65200 area again.
If 63800 is really broken down with volume, the structure changes. Then you need to keep defending further downside toward 63000, even around 62500 for a pullback.
Also, don't automatically call it a breakout just because it rebounds. Until the 65000—65500 zone of trapped supply hasn't been absorbed, any push upward is still likely to get hammered back.
This kind of converging range order is most prone to sweep both sides. Looking long today and short tomorrow isn't meaningful. First, wait to see which side of the triangle truly breaks.
This type of spike-and-reversal most easily disrupts the rhythm. The up and down moves aren't hard to see—what's hard is, once the market regime changes, you still keep using the same playbook. If you can't make sense of it, come find Luoshen $ETH #贝莱德加拿大推出比特币关联ETF #BTC走势分析 .